Exhibit
10.2


 





LEASE
AGREEMENT


 


ARTICLE
ONE  BASIC TERMS


 


This
Article One contains the Basic Terms of this Lease between Landlord and Tenant named below. Other Articles, Sections and
Paragraphs of this Lease referred to in this Article One explain and define the Basic Terms and are to be read in conjunction
with the Basic Terms.


 


Section
1.01  Date of Lease: June 29, 2017.


 


Section
1.02  Landlord: GDC Realty, L.L.C., a Nevada limited liability company.


 


Address
of Landlord:     GDC Realty, L.L.C.





932
Vegas Valley Drive


Las
Vegas, NV 89109





Attention;
James C. Dillingham


 


Section
1.03  Tenant: HDGLV L.L.C., a Nevada limited liability company.


 


Address
of Tenant:         HDGLV L.L.C





9340
W. Martin Avenue


Las
Vegas, NV 89121


Attention:
Dimitri Deslis


 


Section
1.04  Premises: The “Premises” shall be all of that certain commercial real property, inclusive
of the current building containing approximately 17,298 square feet (the “Building”), and all other improvements
and fixtures located thereon, and rights appurtenant thereto, located at 2310 Western Avenue, Las Vegas, Nevada (APN#162-04-404-002),
and identified on Exhibit “A” attached hereto, and shall include the right to utilize all parking improvements and
other portions of the property. The square footage figure for the Premises, as recited in this Section 1.04, is approximate.
No adjustment will be made to the Base Rent or any other amounts payable by Tenant under this Lease (or to any other provisions
of this Lease) if the actual square footage, however measured, is more or less than the square footage recited.


 


Section
1.05  Term.


 


(a)  Lease
Term:  Ten (10) years, plus any applicable extension(s) thereof.


 


(b)  Lease
Commencement Date:  The Lease Term shall commence on the date (the “Commencement Date”) that
is thirty (30) days following the date Tenant is given full access to and possession of the Property.


 


(c)  Lease
Expiration Date: June 30, 2027.


 


Section
1.06  Permitted Uses: (See Article Five ) only for operation of a legally permitted cultivation of cannabis
and related storage, warehousing, and distribution, and related office administration; all as permitted by, and in strict accordance
with, the laws of the State of Nevada or any other mutually agreed legal use.


 


Section
1.07  Initial Security Deposit: (Sec Section 3.02) an amount equal to the sum of the first and last month’s
Base Rent or $38,632.93.


 


Section
1.08  Brokers: N/A


 




    1


     


    

 


Section
1.09  Rent and Other Charges Payable by Tenant:


 


(a)  BASE
RENT:


 


	Lease
    Period	 	Monthly
    Payment	 	 	Annual
    Rent	 
	Lease
    Months 1 through 12	 	$	0.00	*	 	$	0.00	 
	Lease
    Months 13 through 60	 	$	19,220.00	 	 	$	230,640.00	 
	Lease
    Months 61 through 72	 	$	19,239.22	 	 	$	230,870.64	 
	Lease
    Months 73 through 84	 	$	19,258.46		 	$	231,101.52	 
	Lease
    Months 85 through 96	 	$	19,296.98	 	 	$	231,563.76	 
	Lease
    Months 97 through 108	 	$	19,
                                         354.87	 	 	$	232,258.44	 
	Lease
    Months 109 through 120	 	$	19,412.93	 	 	$	232,955.16	 



 


**
Base Rent for months 1-12 shall be abated hereunder.


 


(b)  ADDITIONAL
RENT: (i) all Real Property Taxes (see Section 4.02 below); (ii) all Utilities (see Section 4.03 below); (iii) all
Insurance Premiums (see Section 4.04 below); and (iv) one hundred percent (100%) of all Common Area Costs (see Section
4.05(e) below) (collectively, the “Operating Costs”). Tenant shall be obligated to pay the Operating Costs referenced
in this Section 1.09(b) as Additional Rent during the entire Lease Term, including any extensions thereto, without any abatement
whatsoever.


 


(c)  PERCENTAGE/GROSS
REVENUE RENT: None.


 


ARTICLE
TWO  LEASE TERM


 


Section
2.01  Lease of Premises for Lease Term. Landlord hereby leases to Tenant and Tenant leases from Landlord the
Premises, as described in Section 1.04 above. The term of this Lease (the “Lease Term”) shall be as
set forth in Section 1.05(a) above, shall commence on the date (the “Lease Commencement Date”) set forth
in Section 1.05(b) above, and shall terminate on the date (the “Lease Expiration Date”) set forth in
Section 1.05(c) above, unless sooner terminated or extended as expressly provided in this Lease. The terms and provisions
of this Lease shall be effective as of the date of this Lease.


 


Section
2.02  Delay in Commencement. If delivery of possession of the Premises to Tenant is delayed, and if Landlord
and Tenant mutually agree, each shall, upon such delivery, execute an amendment to this Lease setting forth the actual
Lease Commencement Date and Lease Expiration Date, substantially in the form attached as Exhibit “C” to this
Lease, which Tenant shall execute and return to Landlord within five (5) days after receipt from Landlord. The failure of Tenant
to take possession of or to occupy the Premises upon delivery by Landlord shall not serve to relieve Tenant of any obligations
arising on the Lease Commencement Date, and shall not delay the payment of Rent then due by Tenant.


 


Section
2.03  Early Access. Tenant shall have the right of early access to the Premises, subject to (a) full execution
of this Lease, (b) Tenant’s receipt of all necessary governmental permits, approvals, licenses, or consents or authorizations
(with copies of same to be delivered to Landlord), and (c) all of the terms and conditions of this Lease (including, but not limited
to, the insurance provisions of Section 4.04 below), with the exception of the payment of Base Rent and Additional Rent;
provided, however, that during such period of early access, Tenant shall be responsible for payment of the cost of all utilities
attributable to Tenant’s use of the Premises. Such early access shall be for the sole purpose of preparing the Premises
for Tenant’s use, including the installation of equipment and storage of Tenant’s products. During such period, Tenant
shall assume all risk of loss to Tenant’s equipment, products, and other personal property. Notwithstanding the above, if
Tenant occupies the Premises and commences business operations thereon prior to the Lease Commencement Date, Tenant’s use
and occupancy of the Premises shall be subject to all of the provisions of this Lease, including those governing the payment of
Additional Rent. Tenant’s early access to or occupancy of the Premises shall not advance the Lease Expiration Date.


 






    2


     


    




 


Section
2,04  Holding Over. Tenant agrees that if the Premises is not surrendered to Landlord on or before the expiration
or earlier termination of the Lease Term, without the express or implied consent of Landlord, such tenancy shall be a tenancy
at sufferance only, and shall not constitute a renewal hereof or an extension for any further term, and in such case Base Rent
shall be payable at a monthly rate equal to one hundred twenty-five percent 125% the Base Rent applicable immediately before the
expiration or earlier termination of the Lease Term. Such tenancy at sufferance shall be subject to every other term, covenant
and agreement contained herein. Nothing in this Lease, including this Section 2.04, shall be construed as consent by Landlord
to Tenant retaining possession of the Premises after the expiration or earlier termination of the Lease Term and no acceptance
by Landlord of payments from Tenant after the expiration or earlier termination of the Lease Term shall be deemed to be other
than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 2.04, which provisions
shall survive the expiration or earlier termination of the Lease Term. If Tenant fails to surrender the Premises upon the expiration
or earlier termination of the Lease Term, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect,
defend, indemnify and hold harmless Landlord (and Landlord’s members, managers, partners, and shareholders, as applicable,
and the affiliates, employees, agents, and contractors of Landlord and its members, managers, partners, and shareholders, as applicable)
from all losses, liabilities, damages, costs and expenses (including attorneys’ fees) resulting from such failure, including,
without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such failure to surrender,
and any lost profits to Landlord resulting therefrom.


 


Section
2.05  Option to Extend Lease Term.


 


(a)  Grant
of Option. Landlord hereby grants to Tenant two (2) options (each an “Option”) to extend the Lease Term
for an additional term of five (5) years each (an “Extension”), on the same terms and conditions as set forth in this
Lease with a three percent (3%) annual increase in the Base Rent. The Option shall be exercised only by written notice delivered
to Landlord not more than three hundred sixty (360) days and not less than ninety (90) days before the expiration of the then
current Lease Term. If Tenant fails to deliver Landlord written notice of the exercise of the Option within the prescribed time
period, the Option shall lapse, and there shall be no further right to extend the Lease Term. The Option shall be exercisable
by Tenant on the express conditions that (a) at the time of the exercise, Tenant shall not be in default under any of the provisions
of this Lease. Following Tenant’s timely and valid exercise of an Option, Landlord shall prepare and Tenant shall execute
and deliver to Landlord an amendment to this Lease confirming the term of the Extension and the amount of Base Rent payable by
Tenant during the Extension.


 


(b)  Intentionally
Omitted.


 


(c)  Intentionally
Omitted.


 


(d)  Time
of Essence. Time is of the essence with respect to Tenant’s exercise of an Option granted in this Section 2.05.


 


(e)  Intentionally
Omitted.


 


ARTICLE
THREE BASE RENT


 


Section
3.01  Time and Manner of Payment. Base Rent for Lease Month I through Lease Month 12 of the initial Lease Term
shall be abated hereunder. On the first day of Lease Month 13 of the initial Lease Term, Tenant shall pay Landlord monthly Base
Rent in the amount stated in Section 1.09(a) above for Lease Month 13. On the first day of the next Lease Month for which
Base Rent is payable and each Lease Month thereafter, Tenant shall pay Landlord monthly Base Rent in the amount stated in Section
1.09(a) above, in advance. The Base Rent shall be payable at Landlord’s address or at such other place as Landlord may
designate in writing. The term “Lease Month” shall mean each consecutive calendar month during the Lease Term,
including any extensions thereto, with the first Lease Month commencing on the Lease Commencement Date if the Lease Commencement
Date is the first day of a calendar month; otherwise the first Lease Month shall commence on the Lease Commencement Date and shall
end on the last day of that month. If the Lease Commencement Date is a day other than the first day of a calendar month, then
Lease Month I shall commence on the Lease Commencement Date and shall end on the last day of that month.


 




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Section
3.02  Security Deposit; Increases.


 


(a)  No
later than September 1, 2017, Tenant shall deposit with Landlord a cash Security Deposit in the amount set forth in Section
1,07 above. Landlord may apply all or part of the Security Deposit to any unpaid rent due from Tenant. if Landlord uses any
part of the Security Deposit, Tenant shall restore the Security Deposit to its full amount within ten (10) days after Landlord’s
written request. No interest shall be paid on the Security Deposit. Landlord shall be required to keep the Security Deposit separate
from its other accounts. Landlord shall refund the portion of the Security Deposit to which Tenant is entitled (if any) within
sixty (60) days following the date that Tenant surrenders possession of the Premises to Landlord in accordance with the terms
and conditions of this Lease.


 


Section
3.03  Application of Payments. Unless otherwise designated by Landlord in its sole discretion, all payments received
by Landlord from Tenant shall he applied to the oldest payment obligation owed by Tenant to Landlord.


 


Section
3.04  Termination; Advance Payments. Upon termination of this Lease under Article Seven (Damage or Destruction)
of this Lease, or under Article Fight (Condemnation) of this Lease, or any other termination not resulting from Tenant’s
default, and after Tenant has vacated the Premises in the manner required by this Lease, Landlord shall promptly refund or credit
to Tenant (or Tenant’s successor) the unused portion of the Security Deposit, any advance rent or other advance payments
made by Tenant to Landlord, and any amounts paid for Real Property Taxes (defined below) and insurance which apply to any time
periods after termination of this Lease.


 


ARTICLE
FOUR  OTHER CHARGES PAYABLE BY TENANT


 


Section
4.01  Additional Rent. All charges payable by Tenant under this Lease other than Base Rent are called “Additional
Rent.” All costs, expenses, and obligations of any kind relating to the Premises shall be paid by Tenant and Landlord shall
be indemnified by Tenant against all such costs, expenses, and obligations. Unless this Lease provides otherwise, Tenant shall
pay all Additional Rent on the first day of each Lease Month during the Lease Term. For the avoidance of any doubt, Tenant shall
pay Additional Rent during the entire Lease Term, including any extensions thereto, without any abatement whatsoever. The term
“rent” or “Rent” shall mean Base Rent and Additional Rent. Without limitation on other obligations of
Tenant that shall survive the expiration or earlier termination of the Lease Term, the obligation of Tenant to pay any accrued
but unpaid Rent shall survive the expiration or earlier termination of the Lease Term. The failure of Landlord to timely furnish
Tenant the amount of the Rent shall not preclude Landlord from enforcing its rights to collect such Rent.


 


Section
4.02  Property Taxes.


 


(a)  Real
Property Taxes. Tenant shall pay all Real Property Taxes on the Premises (including any fees, taxes or assessments against,
or as a result of, any tenant improvements installed on the Premises by or for the benefit of Tenant) during the Lease Term. Landlord
will bill Tenant monthly in advance for one-twelfth (1/12) of the estimated amount of such Real Property Taxes for the current
tax year and Tenant shall pay Landlord the amount of such Real Property Taxes, as Additional Rent. Landlord will pay such Real
Property Taxes on or before their due date. Any penalty caused by Tenant’s failure to timely make such payments shall also
be Additional Rent owed by Tenant immediately upon demand.


 


(b)  Definition
of “Real Property Taxes.” “Real Property Taxes” means: (i) all real property taxes and assessments
of any kind or nature, including without limitation, any lee, license fee, license tax, business license fee, commercial rental
tax, levy, charge, assessment, penalty, or tax imposed by any taxing authority against the Property; (ii) any tax on the Landlord’s
right to receive, or the receipt of, Rent or income from the Property or against Landlord’s business of leasing the Property;
(iii) any tax or charge for fire protection, streets, sidewalks, water reclamation, road maintenance, refuse, or other services
provided to the Property by any governmental agency; (iv) any tax imposed upon this transaction or based upon a re-assessment
of the Property due to a change of ownership, as defined by applicable law, or other transfer of all or part of Landlord’s
interest in the Property; and (v) any charge or fee replacing any tax previously included within the definition of Real Property
Tax. “Real Property Tax” does not, however, include Landlord’s federal or state income, franchise, inheritance,
or estate taxes.


 




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(c)  Intentionally
Omitted.


 


(d)  Personal
Property Taxes.


 


(i)  Tenant
shall pay all taxes charged against trade fixtures, furnishings, equipment or any other personal property belonging to Tenant.
Tenant shall diligently pursue the separate assessment of such personal property, so that it is taxed separately from the Premises.


 


(ii)  If
any of Tenant’s personal property is taxed with the Premises, Tenant shall pay Landlord the taxes for the personal property
within fifteen (15) days after Tenant receives a written statement from Landlord for such personal property taxes.


 


(e)  Use
and Occupancy Taxes. Tenant shall also pay before any penalties or fines are assessed to the appropriate governmental authority
any use and occupancy tax in connection with the Premises, in the event Landlord is required by law to collect such tax, Tenant
shall pay such use and occupancy tax to Landlord as Additional Rein within ten (10) days of demand and Landlord shall remit any
amounts so paid to Landlord to the appropriate governmental authority in a timely fashion.


 


Section
4.03  Utilities. Tenant shall pay, directly to the appropriate supplier, the cost of all natural gas, heat, light,
power, sewer service, telephone, fiber optic, cable or other communications or data delivery services, water, refuse disposal
and other utilities and services supplied to and/or consumed at the Premises. Tenant acknowledges and agrees that (1) this Lease
is entirely separate and distinct from and independent of any and all agreements that Tenant may at any time enter into with any
third party for the provision of utility services or any other services, and (2) Landlord has no obligation of any kind concerning
the provision of any such services. Landlord shall not be liable for any failure to furnish, stoppage of, or interruption in furnishing
any of the services or utilities described in this Section 4.03, when such failure is caused by accident, breakage, repairs,
strikes, lockouts, labor disputes, labor disturbances, governmental regulation, civil disturbances, terrorist acts, acts of war,
moratorium or other governmental action, or any other cause beyond Landlord’s reasonable control, and, in such event, Tenant
shall not be entitled to any damages nor shall any failure or interruption abate or suspend Tenant’s obligation to pay rent
as required under this Lease or constitute or be construed as a constructive or other eviction of Tenant. Rather, in the event
any governmental authority or public utility promulgates or revises any law, ordinance, rule or regulation, or issues mandatory
controls or voluntary controls relating to the use or conservation of energy, water, gas, or electricity, the reduction of automobile
or other emissions, or the provision of any other utility or service, Landlord may take any reasonably appropriate action to comply
with such law, ordinance, rule, regulation, mandatory control or voluntary guideline without affecting Tenant’s obligations
under this Lease. Tenant recognizes that security services, if any, provided by Landlord shall be at Landlord’s sole expense
at the Building and are for the protection of Landlord’s property and under no circumstances shall Landlord be responsible
for, and Tenant waives any rights with respect to, providing security or other protection for Tenant or its employees, invitees
or property in or about the Premises and Tenant shall not be responsible for the cost of any such services.


 


Section
4.04  Insurance Policies.


 


(a)  Liability
Insurance. During the Lease Term, Tenant, at Tenant’s sole cost and expense, shall maintain a policy of commercial general
liability insurance (or its equivalent) insuring Tenant against liability for bodily injury, property damage (including loss of
use of property) and personal injury arising out of the operation, use or occupancy of the Premises. Tenant shall name Landlord
(and any affiliate, lender or property manager of Landlord designated by Landlord) as an additional insured under such policy,
and Tenant shall provide Landlord with an appropriate “additional insured” endorsement to Tenant’s liability
insurance policy not less than ten (10) business days before the early access to or occupancy of the Premises by Tenant or any
other member of the Tenant Group (defined below). The initial amount of such insurance shall be not less than Two Million Dollars
($2,000,000.00) per occurrence_ The amount nod coverage of such insurance shall not limit Tenant’s liability nor relieve
Tenant of any other obligation under this Lease. Tenant may satisfy its obligations under this Section through the use of a combination
of primary and excess or umbrella coverage. Landlord may also obtain commercial general liability insurance at its sole cost and
expense in an amount and with coverage determined by Landlord, insuring Landlord against liability arising out of ownership, operation,
use or occupancy of the Premises. The policy obtained by Landlord shall not be contributory and shall not provide primary insurance.


 




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(b)  Property
and Rental Income Insurance. During the Lease Term, Landlord shall maintain policies of insurance at Tenant’s sole cost
and expense (as Additional Rent) covering loss of or damage to the Premises and the Building improvements owned by Landlord in
the full amount of their replacement cost, with such policies providing protection against loss or damage due to fire or other
perils covered by the “Causes of Loss—Special Form” policy (or a similar policy containing equivalent coverage).
Landlord, at Tenant’s sole cost and expense (as Additional Rent), shall have the right to obtain flood insurance. Landlord
at its expense may acquire other forms of insurance. Landlord shall not obtain insurance for Tenant’s fixtures or equipment
or building improvements installed by Tenant on the Premises. During the Lease Term, Landlord may also, at its sole cost and expense,
maintain a rental income insurance policy, with loss payable to Landlord, in an amount equal to one year’s Base Rent, plus
one year’s estimated recurring Additional Rent. Tenant shall not do or permit anything to he done which invalidates any
such insurance policies.


 


(c)  Payment
of Premiums. Tenant shall pay its premiums for the insurance policies described in Sections 4.04(a)-(b) above, and
Landlord shall pay all premiums for non-primary commercial general liability or other insurance which Landlord elects to obtain
as provided in Section 4.04(a)-(b) above. Subject to the provisions of Section 2.03 above, prior to the Lease Commencement
Date, Tenant shall deliver to Landlord (a) either (i) a certificate of insurance (in form reasonably acceptable to Landlord) executed
by an authorized officer or agent of the insurance company, certifying that the insurance that Tenant is required to maintain
under this Section 4,04 is in full force and effect and containing such other information Landlord reasonably requires,
or (ii) copies of the required policies of insurance or other satisfactory evidence (on which Landlord can reasonably rely) that
the insurance Tenant is required to maintain under this Section 4.04 is in full force and effect, and (b) any endorsements
to Tenant’s insurance policies required by this Section 4.04. At least thirty (30) days prior to the expiration
of any insurance coverage Tenant is required to maintain under this Section 4.04, Tenant shall deliver to Landlord a certificate
of insurance (in form acceptable to Landlord) or other satisfactory evidence (on which Landlord can reasonably rely) verifying
the timely renewal of such coverage.


 


(d)  General
Insurance Provisions.


 


(i)  Any
insurance that Tenant is required to maintain under this Lease shall include a provision (by endorsement, if necessary) that requires
the insurance carrier to give Landlord and Landlord’s lender (if requested) not less than thirty (30) days’ written
notice prior to any cancellation (whether by Tenant or the insurer) or modification of such coverage, including the cancellation
(whether by Tenant or the insurer) or modification of any required endorsements.


 


(ii)  If
Tenant fails to deliver to Landlord or Landlord’s lender (if requested) any certificate of insurance or endorsement required
under this Lease within the prescribed time period or it’ any such policy is canceled or modified during the Lease Term
without Landlord’s consent, Landlord may obtain such insurance for Landlord’s sole benefit (but is under no obligation
to do so), in which case Tenant shall reimburse Landlord for the reasonable cost of such insurance within fifteen (15) days after
receipt of a statement that indicates the cost of such insurance. If Tenant fails to carry the required insurance, such failure
shall automatically be deemed in he a covenant by Tenant to self-insure such required coverage.


 


(iii)  Tenant
shall maintain all insurance required under this Lease with companies duly authorized to issue insurance policies in the State
in which the Premises is located and holding a Financial Strength Rating of “A” or better, and a Financial Size Category
of “XII” or larger, based on the most recent published ratings of the A.M. Best Company. Landlord and Tenant acknowledge
the insurance markets are rapidly changing and that insurance in the form and amounts described in this Section 4.04 may
not be available in the future. If at any time during the Lease Term, Tenant is unable to obtain and maintain the insurance required
under this Lease, Tenant shall nevertheless maintain insurance coverage which is (I) customary and commercially reasonable in
the insurance industry for Tenant’s type of business, as that coverage may change from time to time, and (2) reasonably
acceptable to Landlord. Landlord makes no representation as to the adequacy of such insurance to protect Landlord’s or Tenant’s
interests, if Tenant believes that any such insurance coverage is inadequate, Tenant shall obtain any such additional property
or liability insurance which Tenant deems necessary to protect Landlord and Tenant.


 




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(iv)  Notwithstanding
anything in this Lease to the contrary, Landlord and Tenant each hereby waives any and all rights of recovery against the other,
or against the members, managers, officers, employees, agents or representatives of the other (whether such right of recovery
arises from a claim based on negligence or otherwise), for loss of or damage to its property or the property of others under its
control, if such loss or damage is covered by any insurance policy in force (whether or not described in this Lease) at the time
of such loss or damage. To the extent required under their respective policies of insurance, Landlord and Tenant shall give notice
to the insurance carriers of this mutual waiver of claims and confirm that their respective policies of insurance do not prohibit
this waiver and include a corresponding waiver of subrogation by the insurer.


 


(v)  Tenant
shall not do or permit to be done any act or thing upon the Premises which would (a) jeopardize or be in conflict with the property
insurance policies covering the Premises or fixtures or property in the Premises; (b) increase the rate of property insurance
applicable to the Premises to an amount higher than it otherwise would be for general office and warehouse use of the Premises;
or (c) subject Landlord to any liability or responsibility for injury to any person or persons or to property by reason of any
business or operation being conducted at the Premises.


 


(vi)  Tenant
shall, at its sole cost and expense, keep in full force and effect during the Lease Term the following additional coverage: (1)
workers’ compensation insurance as required by state law; and (2) employer’s liability insurance. Such property insurance
policies of Tenant shall contain an agreed amount endorsement in lieu of a co-insurance clause, and shall be written as primary
policies, not contributing with and not supplemental to the property insurance coverage that Landlord is required to carry pursuant
to Section 4.04(b) above. Tenant may satisfy its liability insurance obligations under this subsection through the use
of a combination of primary and excess or umbrella coverage. Tenant shall be solely responsible for payment of the entirety of
any self-insured retention or deductible amount under Tenant’s insurance policies.


 


(vii)  If
Tenant carries any of the liability insurance required hereunder in the form of a policy covering more than one location, any
certificate required hereunder shall make specific reference to the Premises. In addition, any such policy shall contain a “per
location” or “Designated Locations(s) General Aggregate” (or comparable) endorsement assuring that any aggregate
limit under such policy shall apply separately to the Premises and that the insurer (hereunder shall provide written notice to
Landlord if the available portion of such aggregate is reduced to less than the minimum amounts required under Section 4.04(a)
above by either payment of claims or the establishment of reserves for claims (in which case Tenant shall be obligated to
take immediate steps to increase the amount of its insurance coverage in order to satisfy the minimum requirements set forth in
Section 4.04(a) above).


 


(viii)  Tenant’s
insurance obligations under this Section 4.04 are separate and independent obligations of Tenant, and are expressly not
dependent or conditioned on any other obligations of Tenant under this Lease.


 


Section
4.05  Common Areas; Use, Maintenance and Costs.


 


(a)  Common
Areas. As used in this Lease, “Common Areas” shall mean all areas of the Premises outside of the Building, including,
but not limited to, parking areas, driveways, sidewalks, loading areas, access roads, corridors, landscaping and planted areas,


 


(b)  Use
of Common Areas. Tenant shall have the right to use the Common Areas for the purposes intended. Notwithstanding any language
to the contrary in this Lease, Tenant’s right to use the Common Areas shall automatically terminate upon termination of
this Lease or upon termination of Tenant’s right to possess the Premises.


 






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(c)  Maintenance
of Common Areas. Tenant shall maintain the Common Areas in good order, condition and repair, consistent with, in Tenant’s
sole discretion, an industrial/commercial real property development in the Las Vegas, Nevada market. Tenant shall pay one hundred
percent (100%) of all costs incurred for the operation and maintenance of the Common Areas (the “Common Area Costs”).
Common Area Costs include, but are not limited to, all costs and expenses for the following: utilities, water and sewage charges;
maintenance of signs; maintenance of any ESFR fire system and pump (including testing, monitoring and servicing); maintenance
of landscaped areas; association dues; all property taxes and assessments levied on or attributable to the Common Areas and all
Common Area improvements; all personal property taxes levied on or attributable to personal property used in connection with the
Common Areas; the cost of improvements made subsequent to the initial development of the Premises to comply with the requirements
of any law, ordinance, code, rule or regulation, including, without limitation, any “green building” laws; fees for
required licenses and permits; repairing, resurfacing, repaving, maintaining, painting, lighting, cleaning, refuse removal, security
and similar items for the Premises; the cost of service contracts and maintenance expenses for heating and air conditioning systems,
except to the extent undertaken by Tenant pursuant to Section 6.04(a) below; the costs of operating and maintaining any
on-site or off-site storm water detention facilities benefiting the Premises; the cost of service contracts and maintenance expenses
for the roof of the Premises; exterior painting, sealing and restriping and/or resurfacing and repaving of the parking lot, driveways,
and other paved areas. Common Area Costs shall not include depreciation of real property which forms part of the Common Areas.


 


(d)  Landscaped
and Paved Areas. Consistent with Section 4.05(c) above, Tenant shall maintain, as a Common Area Cost, the landscaped
and paved areas of the Premises. Such maintenance shall include gardening, tree trimming, replacement or repair of landscaping,
landscape irrigation systems and similar items. Such maintenance shall also include sweeping and cleaning of asphalt, concrete
or other surfaces on the driveway, parking areas, yard areas, loading areas or other paved or covered surfaces


 


(e)  Payment.
Tenant shall pay all Common Area Costs (prorated for any fractional month) as provided below in this Section 4.05(e).


 


Section
4.06  Late Charges. Tenant’s Niue to pay rent promptly may cause Landlord to incur unanticipated costs.
The exact amount of such costs is impractical or extremely difficult to ascertain. Such costs may include, but are not limited
to, processing and accounting charges and late charges which may be imposed on Landlord by any ground lease, mortgage or trust
deed encumbering the Premises. Therefore, if Landlord does not receive any rent payment within five (5) days after it becomes
due, Tenant shall pay Landlord a late charge equal to five percent (5%) of the overdue amount. The parties agree that such late
charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of such late payment. If Tenant shall
be served with a demand for payment of past due rent or any other charge, any payments tendered thereafter to cure any default
of Tenant shall be made only by cashier’s check, wire transfer, or other immediately available funds.


 


Section
4.07  Interest on Past Due Obligations. In addition to any late charge imposed pursuant to Section 4.06
above, any amount owed by Tenant to Landlord which is not paid within five (5) days after it becomes due shall bear interest at
the rate of eight percent (8%) per annum from the due date of such amount (“Interest”); provided, however, that no
interest shall be payable on any late charges imposed on Tenant under this Lease. The payment of interest on such amounts shall
not excuse or cure any default by Tenant under this Lease. If the interest rate specified in this Section 4.07, or any
other charge or payment due under this Lease which may be deemed or construed as interest, is higher than the rate permitted by
law, such interest rate is hereby decreased to the maximum legal interest rate permitted by law.


 


Section
4.08  Payment of Additional Rent. The Additional Rent provided to be paid hereunder in Section 1.09(b) shall
be paid in advance by Tenant on the first day of each month without further demand or any deduction, offset, or set-off whatsoever.
Such Additional Rent shall be held by Landlord for the payment of the Operating Costs, including all Real Property Taxes for which
Tenant is liable under of this Lease, charges for water and any utilities not paid directly by Tenant under of this Lease, all
insurance premiums for which Tenant is liable under of this Lease, Tenant’s pro-rata share of common area costs under of
this Lease, all maintenance and repair costs for which Tenant is liable under Section 6.04 of this Lease, and all other Operating
Costs payable by Tenant hereunder. Should actual Operating Costs as adjusted to an average monthly cost exceed the amount in Section
1.09(h), the Landlord may increase the Additional Rent in Section 1.09(b) based upon Landlord’s experience and reasonable
anticipation or future costs. Such adjustments shall be effective as of the next Rent payment date after notice to Tenant.


 




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ARTICLE
FIVE USE OF PROPERTY


 


Section
5.01  Permitted Uses. Tenant may lawfully use the Premises only for the Permitted Uses set forth in Section
1.06 above; provided that such Permitted Uses (i) do not create any unusual or atypical wear and tear on the Building or decrease
the value of the Premises; (ii) do not create any risk of Environmental Damages or Hazardous Material contamination on the Premises;
(iii) do not create a nuisance under Applicable Laws; (iv) do not include storage of Hazardous Materials (defined below) (other
than those permitted under Section 5.03 below) or explosives; and (v) are legally permissible and lawful uses of the Premises.


 


Section
5.02  Manner of Use. Tenant shall not cause or permit the Premises to be improved or used in any way which constitutes
a violation of any applicable law, statute, ordinance, or governmental regulation or order, or other governmental requirement
now in force or which may hereafter be enacted or promulgated, including, without limitation, any future applicable “green
building” ordinance, law or regulation or any ordinance, law, or regulation concerning the cultivation, production, and
sale of controlled substances (collectively, “Applicable Laws”), or which constitutes a nuisance or waste.
Tenant shall obtain and pay for all permits required for Tenant’s occupancy of the Premises, and for all business licenses,
and shall promptly take all actions necessary to comply with all applicable statutes, ordinances, rules, regulations, orders and
requirements regulating the use by Tenant of the Premises, including without limiting to the Occupational Safety and Health Act.
Tenant, at Tenant’s sole cost and expense, shall be responsible for the installation of any fire hose valves, draft curtains,
smoke venting and any additional fire protection systems (including, without limitation, fire extinguishers) that may be required
by the fire department or any governmental agency based on Tenant’s use. Tenant shall, at its sole cost and expense, promptly
comply with any Applicable Laws which relate to (or are triggered by) (i) Tenant’s use of the Premises, and (ii) any alteration
or any tenant improvements made by Tenant or at the request of Tenant. Should any standard or regulation now or hereafter be imposed
on Tenant by any federal, state or local governmental body charged with the establishment, regulation and enforcement of occupational,
health, environmental or safety standards, then Tenant agrees, at its sole cost and expense, to comply promptly with such standards
or regulations, including, without limitation, any governmental requirement to obtain and maintain permits for the use or operation
of any equipment at the Premises or regulating effluent discharges in the course of Tenant’s operations at the Premises.
The final judgment of any court of competent jurisdiction or the admission of Tenant in any judicial action, regardless of whether
Landlord is a party thereto, that Tenant has violated any Applicable Laws, shall he conclusive of that fact as between Landlord
and Tenant. Tenant shall promptly notify Landlord in writing of any water infiltration at the Premises.


 


Section
5.03  Hazardous Materials.


 


5.03.1
Definitions.


 


A.  “Hazardous
Material” means any substance, whether solid, liquid or gaseous in nature:


 


(i)  the
presence of which requires investigation or remediation under any federal, state or local statute, regulation, ordinance, order,
action, policy or common law; or


 


(ii)  which
is or becomes defined as a “hazardous waste,” “hazardous substance,” pollutant or contaminant under any
federal, state or local statute, regulation, rule or ordinance or amendments thereto including, without limitation, the Comprehensive
Environmental Response, Compensation and Liability Act (42 U.S.C. section 9601 et seq.) and/or the Resource Conservation and Recovery
Act (42 U.S.C. section 6901 et seq.), the Hazardous Materials Transportation Act (49 U.S.C. section 1801 et seq.), the Federal
Water Pollution Control Act (33 U.S.C. section 1251 et seq.), the Clean Air Act (42 U.S.C. section 7401 et seq.), the Toxic Substances
Control Act, as amended (IS U.S.C. section 2601 et seq.), and the Occupational Safety and Health Act (29 U.S.C. section 651 et
seq.), as these laws have been amended or supplemented; or


 




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(iii)  which
is toxic, explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic, or otherwise hazardous or is or becomes
regulated by any governmental authority, agency, department, commission, board, agency or instrumentality of the United States,
the State of Nevada or any political subdivision thereof; or


 


(iv)  the
presence of which on the Premises causes or threatens to cause a nuisance upon the Premises or to adjacent properties or poses
or threatens to pose a hazard to the health or safety of persons on or about the Premises; or


 


(v)  the
presence of which on adjacent properties could constitute a trespass by


 


(vi)  without
limitation which contains gasoline. diesel fuel or other petroleum hydrocarbons; or


 


(vii)  without
limitation which contains polychlorinated biphcnyls (PCBs), asbestos or urea formaldehyde foam insulation; or


 


(viii)  without
limitation which contains radon gas.


 


B.  “Environmental
Requirements” means all applicable present and future:


 


(i)  statutes,
regulations, rules, ordinances, codes, licenses, permits, orders, approvals, plans, authorizations, concessions, franchises, and
similar items (including, but not limited to those pertaining to reporting, licensing, permitting, investigation and remediation),
of all Governmental Agencies; and


 


(ii)  all
applicable judicial, administrative, and regulatory decrees, judgments, and orders relating to the protection of human health
or the environment, including, without limitation, all requirements pertaining to emissions, discharges, releases, or threatened
releases of Hazardous Materials or chemical substances into the air, surface water, groundwater or land, or relating to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport, or handling of Hazardous Materials or chemical substances,


 


C.  “Environmental
Damages” means all claims, judgments, damages, losses, penalties, fines, liabilities (including strict liability), encumbrances,
liens, costs, and expenses (including the expense of investigation and defense of any claim, whether or not such claim is ultimately
defeated, or the amount of any good faith settlement or judgment arising from any such claim) of whatever kind or nature, contingent
or otherwise, matured or un-matured, foreseeable or unforeseeable (including without limitation reasonable attorneys’ fees
and disbursements and consultants’ fees) any of which are incurred at any time as a result of the existence of Hazardous
Material upon, about, or beneath the Premises or the Premises or migrating or threatening to migrate to or from the Premises or
the Premises, or the existence of a violation of Environmental Requirements pertaining to the Premises or the Premises and the
activities thereon, regardless of whether the existence of such Hazardous Material or the violation of Environmental Requirements
arose prior to the present ownership or operation of the Premises. Environmental Damages include, without limitation:


 


(i)  damages
for personal injury, or injury to property or natural resources occurring upon or off of the Premises, including, without limitation,
the cost of demolition and rebuilding of any improvements on real property, interest, and penalties;


 


(ii)  fees,
costs or expenses incurred for the services of contractors, experts, laboratories and all other costs incurred in connection with
the investigation or remediation of such Hazardous Materials or violation of such Environmental Requirements, including, but not
limited to, the preparation of any feasibility studies or reports or the performance of any cleanup, remediation, removal, response,
abatement, containment, closure, restoration or monitoring work required by any Governmental Agency or reasonably necessary to
make full economic use of the Premises and the Premises or any other property in a manner consistent with its current use or otherwise
expended in connection with such conditions, and including, without limitation, any attorneys’ fees, costs and expenses
incurred in enforcing the provisions of this Lease or collecting any sums due hereunder; and


 




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(iii)  liability
to any third person or Governmental Agency to indemnify such person or Governmental Agency for costs expended in connection with
the items referenced in subsection (ii) above.


 


D.  “Governmental
Agency” means all governmental agencies, departments, commissions, boards, bureaus or instrumentalities of the United
States, states, counties, cities and political subdivisions thereof.


 


E.  The
“Tenant Croup” means Tenant, Tenant’s successors, assignees, guarantors, officers, members, managers, directors,
agents, employees, contractors, invitees, permitees or other parties under the supervision or control of Tenant during the Lease
Term with the permission or knowledge of Tenant, other than Landlord or Landlord’s agents or employees.


 


5.032
prohibitions.


 


A.  Other
than (i) normal quantities of general office and cleaning supplies containing deminimis amounts of Hazardous Material,
(ii) those Hazardous Materials that may be contained within vehicles, equipment, and machinery operated at the Premises (e.g.,
fuel in a vehicle’s tank) or contained in original packaging from manufacturer and temporarily held by Tenant while in transit,
so long as such items are handled by Tenant in strict compliance with all Environmental Requirements, and (iii) except as specified
on Exhibit “13” attached hereto, Tenant shall not cause, permit or suffer any Hazardous Material to be brought upon,
treated, kept, stored, disposed of, discharged, released, produced, manufactured, generated, refined or used upon, about or beneath
the Premises by the Tenant Group, or any other person without the prior written consent of Landlord. From time to time during
the Lease Term, Tenant may request Landlord’s approval of Tenant’s use of other Hazardous Materials, which approval
may be withheld in Landlord’s sole discretion. Before the date of Tenant’s early access to or occupancy of the Premises,
Tenant shall provide to Landlord for those Hazardous Materials described on Exhibit “B”: (a) a description of handling,
storage, use and disposal procedures; and (b) all “community right to know” plans or disclosures and/or emergency
response plans which Tenant is required to supply to local Governmental Agencies pursuant to any Environmental Requirements.


 


B.  Tenant
shall not cause, permit or suffer the existence or the commission by the Tenant Group, or by any other person, of a violation
of any Environmental Requirements upon, about or beneath the Premises or the Premises.


 


C.  Tenant
shall neither create or suffer to exist, nor permit the Tenant Group to create or suffer to exist any lien, security interest
or other charge or encumbrance of any kind with respect to the Premises or the Premises, including without limitation, any lien
imposed pursuant to section 107(f) of the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C. section 9607(l)) or
any similar state statute.


 


D.  Tenant
shall not install, operate or maintain any above or below grade tank, sump, pit, pond, lagoon or other storage or treatment vessel
or device on the Premises without Landlord’s prior written consent, which may he withheld in Landlord’s sole and absolute
discretion.


 


5.03.3
Indemnity.


 


A.  Tenant,
its successors, assigns and guarantors, agree to indemnify, defend, reimburse and hold harmless:


 


(i)  Landlord;
and


 


(ii)  any
other person who acquires all or a portion of the Premises in any manner (including purchase at a foreclosure sale) or who becomes
entitled to exercise the rights and remedies of Landlord under this Lease: and


 







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(iii)  the
directors, officers, shareholders, employees, partners, members, managers, agents, contractors, subcontractors, experts, licensees,
affiliates, lessees, Mortgagees, trustees, heirs, devisees, successors, assigns and invitees of Landlord and such persons;


 


from
and against any and all Environmental Damages which exist as a result of the willful activities or negligence of the Tenant Group
or which exist as a result of the breach of any warranty or covenant or the inaccuracy of any representation of Tenant contained
in this Lease, or by Tenant’s remediation of the Premises or the Premises or failure to meet its obligations contained in
this Section 5.03.


 


B.  The
obligations contained in this Section 5.03.3 shall include, but not be limited to, the burden and expense of defending
all claims, suits and administrative proceedings, even if such claims, suits or proceedings are groundless, false or fraudulent,
and conducting all negotiations of any description, and paying and discharging, when and as the same become due, any and all judgments,
penalties or other sums due against such indemnified persons. Landlord, at its sole expense, may employ additional counsel of
its choice to associate with counsel representing Tenant.


 


C.  Landlord
shall have the right but not the obligation to join and participate in, and control, if it so elects, any legal proceedings or
actions initiated in connection with Tenant’s activities. Landlord may also negotiate, defend, approve and appeal any action
taken or issued by any applicable governmental authority with regard to contamination of the Premises or the Premises by a Hazardous
Material.


 


D.  The
obligations of Tenant in this Section 5.03.3 shall survive the expiration or termination of this Lease.


 


E.  The
obligations of Tenant under this Section 5,03.3 shall not be affected by any investigation by or on behalf of Landlord,
or by any information which Landlord may have or obtain with respect thereto.


 


5.03.4
Obligation to Remediate. In addition to the obligation of Tenant to indemnify Landlord pursuant to this Lease, Tenant shall,
upon approval and demand of Landlord, at its sole cost and expense and using contractors reasonably approved by Landlord,
promptly take all actions to remediate the Premises and the Premises which are required by any Governmental Agency, or which arc
reasonably necessary to mitigate Environmental Damages or to allow full economic use of the Premises and the Premises, which remediation
is necessitated from the presence upon, about or beneath the Premises and the Premises, at any time during or upon termination
of this Lease (whether discovered during or following the Lease Term), of a Hazardous Material or a violation of Environmental
Requirements existing as a result of the willful activities or negligence of the Tenant Group. Tenant shall take all actions necessary
to restore the Premises and the Premises to the condition existing prior to the introduction of Hazardous Material upon, about
or beneath the Premises and the Premises, notwithstanding any lesser standard of remediation allowable under Applicable Law or
governmental policies.


 


5.03.5
Right to Inspect. Landlord shall have the right in its sole and absolute discretion, but not the duty, to enter and conduct
an inspection of the Premises, including invasive tests, at any reasonable time but with reasonable advance written notice to
Tenant to determine whether Tenant is complying with the terms of this Lease, including but not limited to the compliance of the
Premises and the activities thereon with Environmental Requirements and the existence of Environmental Damages as a result of
the condition of the Premises or surrounding properties and activities thereon. Landlord shall have the right, but not the duty,
to retain any independent professional consultant (the “Consultant”) to enter the Premises to conduct such
an inspection or to review any report prepared by or for Tenant concerning such compliance. The cost of the Consultant shall he
paid by Landlord unless such investigation discloses a violation of any Environmental Requirement by the Tenant Group or the existence
of a Hazardous Material on the Premises or any other property caused by the willful activities or negligence of the Tenant Group
(other than Hazardous Materials used in compliance with all Environmental Requirements and previously approved by Landlord), in
which case Tenant shall pay the cost of the Consultant. Tenant hereby grants to Landlord, and the agents, employees, consultants
and contractors of Landlord the right, with reasonable advance written notice to Tenant, to enter the Premises to perform such
tests on the Premises as arc reasonably necessary to conduct such reviews and investigations. Landlord shall use commercially
reasonable efforts to minimize interference with the business of Tenant.


 




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5.03.6  
Notification. If Tenant shall become aware of or receive notice or other communication concerning any actual, alleged,
suspected or threatened violation of Environmental Requirements, or liability of Tenant for Environmental Damages in connection
with the Premises or past or present activities of any person thereon, including but not limited to notice or other communication
concerning any actual or threatened investigation, inquiry, lawsuit, claim, citation, directive, summons, proceeding, complaint,
notice, order, writ, or injunction, relating to same, then Tenant shall deliver to Landlord within ten (10) days of the receipt
of such notice or communication by Tenant, a written description of said violation, liability, or actual or threatened event or
condition, together with copies of any documents evidencing same. Receipt of such notice shall not be deemed to create any obligation
on the part of Landlord to defend or otherwise respond to any such notification.


 


If
requested by Landlord, Tenant shall disclose to Landlord the names and amounts of all Hazardous Materials other than general office
and cleaning supplies referred to in 5.03.2 of this Lease, which were used, generated, treated, handled, stored or disposed of
on the Premises or which Tenant intends to use, generate, treat, handle, store or dispose of on the Premises. The foregoing in
no way shall limit the necessity for Tenant obtaining Landlord’s consent pursuant to 5.03.2 of this Lease.


 


5.03.7
Reserved.


 


5.03.8
Assignment and Subletting. In the event this Lease provides that Tenant may assign this Lease or sublet the Premises subject
to Landlord’s consent and/or certain other conditions, and if the proposed assignee’s or subtenant’s activities
in or about the Premises involve the use, handling, storage or disposal of any Hazardous Materials other than those used by Tenant
and in quantities and processes similar to Tenant’s uses in compliance with this Lease, (i) it shall be reasonable for Landlord
to withhold its consent to such assignment or sublease in light of the risk of contamination posed by such activities and/or (ii)
Landlord may, in its sole and absolute discretion, impose an additional condition to such assignment or sublease which requires
Tenant to reasonably establish that such assignee’s or subtenant’s activities pose no materially greater risk of contamination
to the Premises than do Tenant’s permitted activities in view of: (a) the quantities, toxicity and other properties of the
Hazardous Materials to be used by such assignee or subtenant; (b) the precautions against a release of Hazardous Materials such
assignee or subtenant agrees to implement; (c) such assignee’s or subtenant’s financial condition as it relates to
its ability to fund a major clean-up; and (d) such assignee’s or subtenant’s policy and historical record respecting
its willingness to respond to the clean-up of a release of Hazardous Materials.


 


5.03.9  
Survival of Hazardous Materials Obligation. Tenant’s bread of any of its covenants or obligations under this Section
5.03 shall constitute a material default under this Lease. The obligations of Tenant under this Section 5.03 shall
survive the expiration or earlier termination of this Lease without any limitation, and shall constitute obligations that are
independent and severable from Tenant’s covenants and obligations to pay rent under this Lease.


 


Section
5.04  Auctions and Signs. Tenant shall not conduct or permit any auctions or sheriff’s sales at the Premises.
Tenant, at its sole cost and expense, may, with the prior written consent of Landlord, which consent shall not be unreasonably
withheld, install any identification signs (“Signs”) at the Premises; provided, however, that (i) the Signs shall
comply with all applicable governmental rules and regulations and the covenants, conditions and restrictions governing the Premises;
and (ii) Tenant shall be responsible for all costs incurred in connection with the design, construction, installation, repair
and maintenance of the Signs. Upon the expiration or earlier termination of this Lease, Tenant shall cause the Signs to be removed
and shall repair any damage caused by such removal (including, but not limited to, patching and painting), all at Tenant’s
sole cost and expense.


 


Section
5.05  Indemnity. To the extent permitted by Applicable Law, Tenant shall indemnify, defend, protect and hold
harmless Landlord (and Landlord’s members, managers, partners, and shareholders, as applicable, and the affiliates, employees,
agents, and contractors of Landlord and its members, managers, partners, and shareholders, as applicable) and Landlord’s
property manager from any and all costs, claims, loss, damage, expense and liability (including without limitation court costs,
litigation expenses, and reasonable attorneys’ fees) incurred in connection with or arising from: (a) Tenant’s use
of the Premises and the Common Areas, including, but not limited to, those arising from any accident, incident, injury or damage,
however and by whomsoever caused (except to the extent of any claim arising out of Landlord’s gross negligence or willful
misconduct), to any person or property occurring in or about the Premises; (h) the conduct of Tenant’s business or anything
else done or permitted by Tenant to be done in or about the Premises; (c) any breach or default in the performance of Tenant’s
obligations under this Lease; (d) any misrepresentation or breach of warranty by Tenant under this Lease; or (e) other acts or
omissions of Tenant. As used in this Section, the term “Tenant” shall include Tenant’s employees, agents, contractors
and invitees, if applicable. The provisions of this Section 5.05 shall survive the expiration or earlier termination of
this Lease with respect to any claims or liability occurring prior to such expiration or earlier termination, and shall constitute
obligations that are independent and severable from Tenant’s covenants and obligations to pay rent under this Lease.


 




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Section
5.06  Landlord’s Access. Landlord reserves the right at all reasonable times and upon reasonable notice
to Tenant to enter the Premises to (a) inspect it: (b) show the Premises to prospective purchasers, mortgagees or tenants, or
to the ground or underlying lessors; (c) post notices of non-responsibility; (d) alter, improve or repair the Premises; or (e)
place “For Sale” and “For Lease” signs on the Premises during the last one hundred eighty (180) days of
the Lease Term. Notwithstanding anything to the contrary contained in this Section 3.06, Landlord may enter the Premises
at any time to (A) perform services required of Landlord; (B) take possession due to any breach of this Lease, in the manner provided
in this Lease, and consistent with Applicable Law; and (C) perform any covenants of Tenant which Tenant fails to perform. Any
such entries shall be without the abatement of Rent and shall include the right to lake such reasonable steps as required to accomplish
the stated purposes. For each of the above purposes, Landlord may request and Tenant shall provide a key with which to unlock
all the doors in the Premises. In an emergency, Landlord shall have the right to use any means that Landlord may deem proper to
open the doors in and to the Premises. Any entry into the Premises in the manner described above shall not be deemed to be a forcible
or unlawful entry into, or a detainer of, the Premises, or an actual or constructive eviction of Tenant from any portion of the
Premises. In addition to Landlord’s access described herein, Tenant agrees that Landlord may enter upon the Premises no
less frequently than monthly during the buildout phase and thereafter no less than every 90 days during operation to evaluate
building, so long as such entry does not violate any laws applicable to Tenant’s operations conducted on the Premises.


 


Section
5.07  Vehicle Parking. Tenant shall be entitled to use all spaces in the vehicle parking area located adjacent
to the Premises, as described in Section 1.04, and as shown on Exhibit “A” attached hereto, without paying
any additional Rent, other than the usual charges pertaining to the operation and maintenance of the Common Areas.


 


Section
5.08  Quiet Possession. If Tenant pays the rent and observes and performs all other terms, covenants and conditions
on Tenant’s part to be observed and performed under this Lease, Landlord agrees to defend Tenant’s right to quiet
enjoyment of the Premises for the Lease Term against any party claiming by, through or under Landlord, subject to the provisions
of this Lease. Landlord hereby represents and warrants to Tenant and Tenant’s lenders that Landlord owns lee simple title
to the Premises and has the legal right, power and authority to enter into this Lease and this Lease upon execution shall be binding
upon Landlord in accordance with its terms.


 


ARTICLE
SIX  CONDITION OF PROPERTY; MAINTENANCE, REPAIRS AND ALTERATIONS


 


Section
6.01  Existing Conditions. Tenant accepts the Premises in its “as-is” condition as of the earlier
of Tenant’s occupancy of the Premises or the Lease Commencement Date, subject to all recorded matters, laws, ordinances,
and governmental regulations and orders. Except as expressly provided in this Lease, Tenant acknowledges that neither Landlord
nor any agent of Landlord has made any representations or warranties, express or implied, whatsoever with respect to the condition
of the Premises, the Building or any portion of the Premises, or any buildings or other improvements on or comprising a part of
either of same, nor with respect to the fitness or suitability thereof for any particular use or purpose, and Tenant hereby waives
any and all such warranties, express or implied, including specifically but without limitation any warranty or representation
of suitability. Tenant represents and warrants that Tenant has made its own inspection of and inquiry regarding the condition
of the Premises (or has had the opportunity to do so) and is not relying on any representations of Landlord with respect thereto.


 


Section
6.02  Exemption of Landlord from Liability. To the extent permitted by Applicable Law, Landlord shall not be
liable for (and Tenant assumes the risk of) any damage or injury to the person business (or any loss of income therefrom), goods,
wares, merchandise or other property of Tenant, Tenant’s employees, invitees, customers or any other person in or about
the Premises, whether such damage or injury is caused by or results from: (a) fire, steam, electricity, water, gas or rain; (b)
the breakage, leakage, obstruction or other defects of pipes, sprinklers, wires, appliances, plumbing, air conditioning or lighting
fixtures or any other cause; (e) conditions arising in or about the Premises or upon other portions of the Premises, or from other
sources or places; or (d) criminal acts or entry by unauthorized persons into the Premises or the Building. Landlord shall not
be liable for any such damage or injury even though the cause of or the means of repairing such damage or injury arc not accessible
to Tenant. The provisions of this Section 6.02 shall not, however, exempt Landlord from liability to the extent of Landlord’s
gross negligence or willful misconduct, and arc subject to Section 4.04(d)(iv) above.


 




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Section
6.03  Landlord’s Obligations.


 


(a)  Except
as provided in Article Seven (Damage or Destruction) and Article Nine (Condemnation), Landlord shall keep the following
in good order, condition and repair (subject to ordinary wear and tear), including replacement, as needed: structural portions
of the foundations, exterior walls and roof (including the roof membrane) of the Premises (including painting the exterior surface
of the exterior walls of the Premises as often as is necessary, in Landlord’s reasonable judgment. Landlord shall not be
obligated to maintain or repair (or replace) the floor, windows, doors, plate glass or the interior surfaces of exterior walls.
Landlord shall make repairs required under this Section 6.03 within a reasonable time after receipt of written notice from Tenant
of the need for such repairs.


 


(b)  Except
for the structural portions of (i) the foundations, (ii) the exterior walls, and (iii) the roof of the Premises, which shall remain
Landlord’s responsibility, Tenant shall pay or reimburse Landlord for all costs Landlord incurs under Section 6.03(a)
above as Common Area Costs, as provided in Section 4.05 of this Lease.


 


Section
6.04  Tenant’s Obligations.


 


(a)  Except
as provided in Section 4.05(c) above with respect to Landlord’s obligations for the performance of certain work at
the Premises that is the subject of Section 6.03 (Landlord’s Obligations) above, Article Seven (Damage or
Destruction) below, and Article Eight (Condemnation) below, Tenant, at Tenant’s sole cost and expense, shall keep
all portions of the Premises (including structural, nonstructural, interior, exterior, systems and equipment including HVAC) in
good order, condition and repair. If any portion of the Premises or any system or equipment in the Premises that Tenant is obligated
to repair cannot be fully repaired or restored, Tenant shall, upon providing Landlord with reasonable prior written notice of
the scope and cost of replacement, and subject to Landlord’s approval of the same, promptly replace such portion of the
Premises or system or equipment in the Premises. The cost of such replacement shall be amortized over the useful life as reasonably
determined by Landlord, and Tenant shall only be liable for that portion of the cost which is applicable to the remaining Lease
Term (as it may be extended) (the “Useful Life Allocation”), and if the full replacement cost is initially
borne by Tenant, Landlord shall reimburse Tenant or provide Tenant with a credit against future Additional Rent obligations in
an amount equal to Landlord’s share of such total cost. Tenant shall maintain a reasonable preventive maintenance service
contract providing for the regular inspection and maintenance of the Premises’ heating and air conditioning systems (the
“HVAC Systems”) by a licensed heating and air conditioning contractor, unless Landlord is obligated to maintain all
or a portion of such equipment pursuant to Section 6.03(a) above, or unless Landlord makes the election described in the
next succeeding sentence. It is the intention of Landlord and Tenant that, at all times during the Lease Term, Tenant shall maintain
the Premises in an attractive, first-class and fully operative condition. Without limiting the generality of the provisions contained
above in this Section 6.04(a), Tenant agrees to pay Landlord the cost to repair any damage caused by the transportation
and storage of its products in, on, or about the Premises, including, but not limited to any damage to concrete floor slab, adjoining
concrete ramps, adjoining concrete truck apron, and adjoining concrete or asphalt parking and access areas due to the use of forklifts
or other equipment or vehicles hauling Tenant’s products or otherwise, ordinary wear and tear from intended use excepted.
Tenant’s payment obligation described in the immediately preceding sentence shall include the cost of replacement of any
damaged areas of the Premises or the Premises, if repair is impracticable, so as to restore such areas to the condition existing
prior to such damage and in such event Tenant shall not be entitled to the benefit of the Useful Life Allocation.


 




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(b)  Tenant
shall fulfill all of Tenant’s obligations under this Section 6.04 at Tenant’s sole cost and expense, except
as otherwise expressly provided in this Section 6.04. If Tenant fails to maintain, repair or replace the Premises as required
by this Section 6.04, Landlord may (but without any obligation to do so), upon ten (10) days’ prior notice to Tenant
(except that no notice shall be required in the case of an emergency), enter the Premises and perform such maintenance or repair
(including replacement, as needed) on behalf of Tenant. In such ease, Tenant shall reimburse Landlord on demand for all costs
incurred in performing such maintenance, repair or replacement.


 


Section
6.05  Alterations, Additions, and Improvements.


 


(a)  Tenant
shall not make any alterations, additions, or improvements to the Premises (“Tenant’s Alterations”) without
Landlord’s prior written consent which consent shall not be unreasonably withheld, except that no consent shall be required
for non-structural interior alterations that (i) do not exceed Fifty Thousand Dollars ($50,000.00) in cost; (ii) arc not visible
from the outside of the Building; and (iii) do not alter or penetrate the floor slab (except as allowed pursuant to Section
6.09 below) or the roof membrane. All Tenant’s Alterations shall be at Tenant’s sole cost and expense and shall
be performed in a good and workmanlike manner, in conformity with all Applicable Laws. Upon completion of any such work, Tenant
shall provide Landlord with “as built” plans. Notwithstanding anything to the contrary in this Section, Tenant must
obtain Landlord’s prior written consent for any Tenant’s Alterations that will (or may) be visible from the outside
of the Building. Landlord shall have the right, in its sole discretion, to determine the location of any such visible Tenant’s
Alterations and require the screening of such items at Tenant’s sole cost and expense.


 


(b)  Tenant
shall pay when due all claims for labor and material furnished to the Premises or alleged to have been furnished to or for Tenant
at or for use of the Premises. Tenant shall give Landlord at least twenty (20) days’ prior written notice of the commencement
of any work on the Premises, regardless of whether Landlord’s consent to such work is required. Landlord may elect to record
and post notices of non-responsibility in, on or about the Premises, to the extent permitted under Applicable Law.


 


(c)  To
the extent Landlord’s prior consent is required by this Section 6.05, Landlord may condition its consent to any proposed
Tenant’s Alterations on such requirements as Landlord, in its sole discretion, deems necessary or desirable, including without
limitation: (i) Tenant’s submission to Landlord, for Landlord’s prior written approval, of all plans and specifications
relating to Tenant’s Alterations; (ii) Tenant’s written notice of whether Tenant’s Alterations include the use
or handling of any Hazardous Materials; (iii) Tenant’s obtaining, for Landlord’s benefit and protection, of such insurance
as Landlord may reasonably require (in addition to that required under Section 4.04 of this Lease);and (iv) Tenant’s
obtaining all applicable permits from the governmental authorities and the furnishing of copies of such permits to Landlord before
the commencement of work on the subject Tenant’s Alterations.


 


(d)  Tenant
shall have no power or authority to do any act or make any contract which may create or be the basis for any lien upon the interest
of Landlord in the Premises or the Premises, or any portion thereof. Within ten (10) days following the imposition of any mechanics
or other lien or stop notice filed with respect to the Premises or the Premises, or any portion thereof, based upon any act of
Tenant or of anyone claiming by, through or under Tenant, or based upon work performed or materials supplied allegedly for Tenant,
(an “Imposition”), Tenant shall either (a) cause such Imposition to be released of record by payment, or (b) in case
of a disputed Imposition and dispensation to a final judgment, cause the posting of a proper bond (pursuant to Applicable Law
under which a court issues an order that discharges the lien) or provide other security satisfactory to Landlord. Provided that
the Imposition is timely released or bonded over, Tenant shall have the right to contest the validity of the obligation underlying
the Imposition, provided that Tenant shall diligently contest such Imposition and indemnify, defend, and hold Landlord harmless
from any and all loss, cost, damage, liability and expense (including attorneys’ fees) arising from or related to it. If
Tenant fails to take either action within such ten (10)-day period, Landlord, at its election, may pay and satisfy the Imposition,
in which case the sum so paid by Landlord, with interest from the date of payment at the rate set forth in Section 4.07
of this Lease, shall be deemed Additional Rent due and payable by Tenant within ten (10) days after Tenant’s receipt of
Landlord’s payment demand. Nothing in this Lease shall be construed as consent on the part of Landlord to subject the interest
and estate of Landlord to liability under any applicable lien law for any reason or purpose whatsoever, it being expressly understood
that Landlord’s interest and estate shall not be subject to such liability and that no person shall have any right to assert
any such lien.


 




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(c)  Notwithstanding
any language to the contrary in this Section 6.05, if the proposed Tenant’s Alterations involve or affect
in any way one or more of the structural components of the Building, or relate in any way to life safety matters, including, but
not limited to, the Building’s fire suppression system (collectively, the “Structural and Safety Alterations”),
Landlord’s prior written consent will be required, regardless of the cost of the proposed Tenant’s Alterations.


 


(f)  Tenant
acknowledges and agrees that any Tenant’s Alterations are wholly optional with Tenant and arc not being required by Landlord,
either as a condition to the effectiveness of this Lease or otherwise.


 


Section
6.06  Condition upon Termination. Upon the termination of this Lease, Tenant shall surrender the Premises to
Landlord, broom clean and in the same condition as received (including, without limitation, the removal of all floor striping
and the resealing of the floor, but only to the extent such resealing is necessitated by the removal of such floor striping),
ordinary wear and tear excepted; provided, however, that (a) “ordinary wear and tear” shall not include any damage
or deterioration that would or could have been prevented by good maintenance practice or by Tenant performing all of its obligations
under this Lease, and (b) Tenant shall not be obligated to repair any damage which Landlord is required to repair under Section
6.03 above or Article Seven (Damage or Destruction) below. All Tenant’s Alterations that Landlord has not required
Tenant to remove shall become Landlord’s property and shall be surrendered to Landlord upon the expiration or earlier termination
of this Lease, except that Tenant may remove any of Tenant’s machinery, equipment or other personal property that can be
removed without material damage to the Premises. Tenant shall repair, at Tenant’s expense, any damage to the Premises caused
by the removal of any such machinery, equipment or other personal property. In no event, however, shall Tenant remove any of
the following materials or equipment (which shall be deemed Landlord’s property) without Landlord’s prior written
consent: any power wiring and power panels; drapes, blinds and other window coverings; carpets and other floor coverings; heaters,
air conditioners and any other heating and air conditioning equipment; fencing and security gates; load levelers, dock lights,
dock locks and dock seals; and other similar building operating equipment and decorations. Tenant’s obligations under this
Section 6.06 shall also include its obligations under Section 5.04 with respect to any Signs. If Tenant fails, by
the expiration or earlier termination of the Lease Term, to restore the Premises to the condition required under this Section
6.06, then Tenant shall pay Landlord on demand an amount equal to the cost of such restoration work


 


Section
6.07  Roof Access. Anything in this Lease to the contrary notwithstanding, Tenant shall not and shall not permit
any of its employees, agents, contractors or invitees to enter on or in any way move about on the roof of the Building, for any
purposes whatsoever, without the prior written consent of, coordination with, and supervision of Landlord or its selected agents
or contractors.


 


ARTICLE
SEVEN  DAMAGE OR DESTRUCTION


 


Section
7.01  Partial Damage to Property.


 


(a)  Tenant
shall notify Landlord in writing immediately upon the occurrence of any damage to the Premises. If the Premises is only partially
damaged (i.e., less than twenty-five percent (25%) of the Premises is untenantable as a result of such damage or less than twenty-five
percent (25%) of Tenant’s operations are materially impaired) and if the proceeds received by Landlord from the insurance
policies described in Subsection  are sufficient to pay for the necessary repairs, this Lease shall remain in effect and Landlord
shall repair the damage as soon as reasonably possible. Landlord may elect, but is not required, to repair any damage to Tenant’s
fixtures, equipment, or improvements.


 


(b)  If
the insurance proceeds received by Landlord are not sufficient to pay the entire cost of repair, or if the cause of the damage
is not covered by the insurance policies which Landlord maintains under Subsection, Landlord may elect either to (i) repair the
damage as soon as reasonably possible, in which case this Lease shall remain in full force and effect, or (ii) terminate this
Lease as of the date the damage occurred. Landlord shall notify Tenant within thirty (30) days after receipt of’ notice
of the occurrence of the damage whether Landlord elects to repair the damage or terminate the Lease. If Landlord elects
to repair the damage, Tenant shall pay Landlord the “deductible amount” (if any) under Landlord’s insurance
policies if the damage was due to an act or omission of Tenant, or Tenant’s employees, agents, contractors, or invitees.
If Landlord elects to terminate this Lease, Tenant may elect to continue this Lease in full force and effect, in which case Tenant
shall repair any damage to the Property and any building in which the Premises is located. Tenant shall pay the cost of such repairs,
and Landlord shall deliver to Tenant any insurance proceeds received by Landlord for the damage repaired by Tenant, if any. Tenant
shall give Landlord written notice of such election within tell (10) days after receiving Landlord’s termination notice.


 




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(c)  If
the damage to the Premises occurs during the last six (6) months of the Lease Term and such damage will require more than
thirty (30) days to repair, either Landlord or Tenant may elect to terminate this Lease as of the date the damage occurred,
regardless of the sufficiency of any insurance proceeds. The party electing to terminate this Lease shall give written
notification to the other party of such election within thirty (30) days after Tenant’s notice to Landlord of the
occurrence of the damage.


 


Section
7.02  Substantial or Total Destruction. If the Premises is substantially or totally destroyed by any cause whatsoever
(i.e., the damage to the Premises is greater than partial damage as described in and regardless of whether Landlord receives any
insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence,
if the Property can be rebuilt within six (6) months after the date of destruction, Landlord may elect to rebuild the Property
at Landlord’s own expense, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant
of such election within thirty (30) days after Tenant’s notice of the occurrence of total or substantial destruction. If
Landlord so elects. Landlord shall rebuild the Premises at Landlord’s sole expense, except that if the destruction was caused
by an act or omission of Tenant, Tenant shall pay Landlord the difference between the actual cost of rebuilding and any insurance
proceeds received by Landlord.


 


Section
7.03  Temporary Reduction of Rent. If the Premises is destroyed or damaged and Landlord or Tenant repairs or
restores the Premises pursuant to the provisions of this Article Seven, any Base Rent and recurring Additional Rent payable
during the period of such damage, repair and/or restoration shall be equitably reduced according to the degree, if any, to which
Tenant’s use of the Premises is impaired. However, the reduction shall not exceed the sum of one year’s payment of
Base Rent, insurance premiums, and Real Property Taxes. Except for such possible reduction in Base Rent, insurance premiums, and
Real Property Taxes, Tenant shall not be entitled to any compensation, reduction, or reimbursement from Landlord as a result
of any damage, destruction, repair, or restoration of or to the Premises.


 


ARTICLE
EIGHT  CONDEMNATION


 


If
all or any portion of the Premises is taken under the power of eminent domain or sold under the threat of that power (all of which
are called “Condemnation”), Landlord shall promptly notify Tenant thereof in writing and this Lease shall terminate
as to the part taken or sold on the date the condemning authority takes title or possession, whichever occurs first. If more than
twenty percent (20%) of the floor area of the Premises or such other material portion of either the Premises or Common
Areas is taken, Landlord or Tenant may terminate this Lease as of the date the condemning authority takes title or possession,
by delivering written notice to the other within ten (10) days after receipt of written notice of such taking (or in the absence
of such notice, within ten (10) days after the condemning authority takes title or possession). If neither Landlord nor Tenant
terminates this Lease, this Lease shall remain in effect as to the portion 01 the Premises not taken, except that the Base Rent
and Additional Rent shall be equitably reduced in proportion to the reduction in the floor area of the Premises. Tenant shall
have the right to file any and all legal and equitable claims available to Tenant for any taking of Tenant’s rights,
lease interest, loss of business, damages, personal property and fixtures belonging to Tenant and/or removable by Tenant upon
expiration of the Lease Term pursuant to the terms of this Lease, and for moving expenses, and ally other claims available in
law or equity. If this Lease is not terminated, Landlord shall repair any damage to the Premises caused by the Condemnation, except
that Landlord shall not be obligated to repair any damage for which Tenant has been reimbursed by the condemning authority. If
the severance damages received by Landlord are not sufficient to pay for such repair, Landlord shall have the right to either
terminate this Lease or make such repair at Landlord’s expense. Any Condemnation award or payment shall be payable to Landlord.


 











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ARTICLE
NINE  ASSIGNMENT AND SUBLETTING


 


Section
9.01  Transfers. Except as otherwise provided in Section 9.07 below, Tenant shall not, without the prior written
consent of Landlord which consent shall not he unreasonably withheld, assign, mortgage, pledge, encumber or otherwise transfer
this Lease or any interest hereunder, permit any assignment or other such foregoing transfer of this Lease or any interest hereunder
by operation of law, or sublet the Premises or any part thereof (all of the foregoing arc hereinafter sometimes referred to collectively
as “Transfers” and any person to whom any Transfer is made or sought to be made is hereinafter sometimes referred
to as a ‘Transferee”). To request Landlord’s consent to any Transfer requiring such consent under the
provisions of this Article Nine Tenant shall notify Landlord in writing, which notice (the “Transfer Notice”)
shall include (i) the proposed effective date of the Transfer, which shall not be less than forty-five (45) days after the date
of delivery of the Transfer Notice, (ii) a description of the portion of the Premises to be transferred (the “Subject
Space”), (iii) all of the material terms of the proposed Transfer and the consideration therefor, in connection with
such Transfer, the name and address of the proposed Transferee, and a copy of all existing and/or proposed documentation pertaining
to the proposed Transfer, including all existing operative documents to be executed to evidence such Transfer or the agreements
incidental or related to such Transfer, and (iv) current financial statements of the proposed Transferee certified by an officer,
partner or owner thereof, and any other relevant information reasonably required by Landlord


 


Section
9.02  Landlord’s Consent. Landlord shall not unreasonably withhold its consent to any proposed Transfer
of the Subject Space to the Transferee on the terms specified in the Transfer Notice. The parties hereby agree that it shall be
reasonable under this Lease and under any Applicable Law for Landlord to withhold consent to any proposed Transfer where one or
more of the following apply, without limitation as to other reasonable grounds for withholding consent:


 


9.02.1
The Transferee’s business or use of the Subject Space is not permitted under this Lease;


 


9.02.2
The Transferee is not a party of reasonable financial worth and/or financial stability in light of the responsibilities involved
under this Lease on the dale consent is requested;


 


9.02.3
The proposed Transfer would cause Landlord to be in violation of another lease or agreement to which Landlord is a party;


 


9.02.4
A default of Tenant under this Lease has occurred and is then uncured.


 


If
Landlord consents to any Transfer pursuant to the terms of this Section 9.02 (and does not exercise any recapture rights
Landlord may have under Section 9.04 of this Lease), Tenant may within one hundred eighty (180) days after Landlord’s
consent, but not later than the expiration of such 180-day period, enter into such Transfer of the Premises or portion thereof,
upon substantially the same terms and conditions as arc set forth in the Transfer Notice furnished by Tenant to Landlord pursuant
to Section 9.01 of this Lease.


 


Section
9.03  Effect of Transfer. If Landlord consents to a Transfer, (i) the terms and conditions of this Lease shall
in no way be deemed to have been waived or modified, (ii) such consent shall not be deemed consent to any further Transfer by
either Tenant or a Transferee, (iii) Tenant shall deliver to Landlord, promptly after execution, an original executed copy of
all documentation pertaining to the Transfer in form reasonably acceptable to Landlord, (iv) no Transfer relating to this Lease
or agreement entered into with respect thereto, whether with or without Landlord’s consent, shall relieve Tenant or any
guarantor of Tenant’s obligations under this Lease from liability under this Lease. Landlord or its authorized representatives
shall have the right at all reasonable times to audit the books, records and papers of Tenant relating to any Transfer, and shall
have the right to make copies thereof


 


Section
9.04  Tenant Affiliate. Notwithstanding anything to the contrary contained in Section 9.01 of this Lease,
a Transfer of all or a portion of the Premises to an affiliate of Tenant (an entity which is controlled by, controls, or is under
common control with, Tenant) (a “Tenant Affiliate”), shall not be deemed a Transfer under Article Nine
for which (a) consent is required, provided that: (i) Tenant immediately notifies Landlord of any such Transfer; (ii) promptly
supplies Landlord with any documents or relevant information reasonably requested by Landlord regarding such Transfer; (iii) if
such Transfer is an assignment, Tenant Affiliate assumes in writing all of Tenant’s obligations under this Lease; and (iv)
such Transfer is not a subterfuge by Tenant to avoid its obligations under this Lease or the Transfer restrictions set forth in
this Article Nine.


 




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Section
9.05  No Merger. No merger shall result from Tenant’s sublease of the Premises under this Article Nine,
Tenant’s surrender of this Lease or the termination of this Lease in any other manner. In any such event, Landlord may
terminate any or all subtenancies or succeed to the interest of Tenant as sublandlord under any or all subtenancies.


 


ARTICLE
TEN  DEFAULTS; REMEDIES


 


Section
10.01  Covenants and Conditions. Tenant’s performance of each of Tenant’s obligations under this
Lease is a condition of the Lease. Tenant’s right to continue in possession of the Premises is conditioned upon such performance.
Time is of the essence in the performance of all covenants and conditions.


 


Section
10.02  Defaults. Tenant shall be in default under this Lease (an “Event of Default”):


 


(a)  if
Tenant abandons the Premises or if Tenant’s vacation of the Premises results in the cancellation of any insurance described
in Section 4.04 above;


 


(b)  If
Tenant fails to pay rent or any other charge when clue, and such failure continues for more than ten (10) days after written notice
from Landlord;


 


(c)  If
Tenant fails to perform any of Tenant’s material non-monetary obligations under this Lease for a period of thirty (30) days
after written notice from Landlord; provided that if more than thirty (30) days are required to complete such performance, Tenant
shall not be in default if Tenant commences such performance within the thirty (30) day period and thereafter diligently pursues
its completion. However, Landlord shall not be required to give such notice if Tenant’s failure to perform constitutes a
non-curable breach of this Lease. The notice required by this Subsection I  is intended to satisfy any and all notice requirements
imposed by law on Landlord and is not in addition to any such requirement.


 


(d)  If
Tenant makes a general assignment or general arrangement for the benefit of creditors; it’ a bankruptcy petition is filed
by or against Tenant and is not dismissed within thirty (30) days; if a trustee or receiver is appointed to take possession of
substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease and possession
is not restored to Tenant within thirty (30) days; or if substantially all of Tenant’s assets located at the Premises or
of Tenant’s interest in this Lease is subjected to attachment, execution or other judicial seizure which is not discharged
within thirty (30) days.


 


(c)  If
Tenant’s use becomes unlawful or unpermitted by applicable governmental authority.


 


Section
10.03  Remedies. Upon the occurrence of any Event of Default, Landlord shall provide Tenant a ten 10-day written notice
to cure. Such notice shall contain the description of the Event of Default, and provide for a ten 1 0-day right to cure. If the
ten 10-day right to cure expires, and Tenant has not remedied the Event of Default, Landlord may, at its option pursue any one
or mote of the following remedies, and any and all other rights or remedies accruing to Landlord by law or otherwise, without
any notice or demand to the extent permitted by Applicable Law:


 


(a)  In
the event of Tenant’s default, in addition to and without limiting Landlord in the exercise of any other rights or remedies
provided for herein or at law or in equity, Landlord, at its sole option and with or without notice or demand, shalt have the
following rights:


 


(i)  The
right to declare the Lease Term ended and to reenter the Premises and take possession thereof, and to terminate alt of the rights
of Tenant in and to the Premises;


 






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(ii)  The
right, without declaring the Lease Term ended, to reenter the Property and to occupy the same, or any portion thereof, for and
on account of Tenant as hereinafter provided, and Tenant shall be liable for and pay to Landlord on demand all such expenses as
Landlord may have paid, assumed, or incurred in recovering possession of the Premises, including costs, expenses, attorneys’
fees. and expenditures placing the same in good order and condition, and all other expenses, commissions and charges paid, assumed,
or incurred by Landlord in or in connection with reletting the Premises. Any such reletting as provided for herein. Any reletting
by Landlord may be for the remainder of the Lease Term or for a longer or shorter period. Such reletting shall be for such rent
and on such other terms and conditions as Landlord, in its sole reasonable discretion, deems appropriate. Landlord may execute
any lease made pursuant to the terms hereof in Landlord’s own name, or assume Tenant’s interest in and to any existing
subleases to any subtenant of the Property, as Landlord may see fit, and Tenant shall have no right or authority whatsoever to
collect any rent from such tenants, subtenants, licensees, or concessionaires on the Premises. In any ease, and whether or nut
the Premises or any part thereof be relet, Tenant, until the end of what would have been the Lease Term in the absence of such
default and whether or not the Premises or any part thereof shall have been relet, shall be liable to Landlord and shall pay to
Landlord monthly an amount equal to the amount due as rent hereunder, less the net proceeds for said month, if any, of any reletting
effected for the account of Tenant pursuant to the provisions of this Subsection 10.03(a) after deducting from said proceeds all
of Landlord’s expenses in connection with such retelling, including, without limitation, alll repossession costs, brokerage
commissions, legal expenses, attorneys’ fees, expenses of employees, alteration costs, and expenses of preparation for such
reletting (all said costs are cumulative and shall be applied against proceeds of reletting until paid in full). Landlord reserves
the right to bring such actions for the recovery of any deficits remaining unpaid by Tenant to Landlord hereunder as Landlord
may deem advisable from time to time without being obligated to await the end of the term hereof for a final determination of
Tenant’s account and the commencement or maintenance of one or more actions by Landlord in this connection shall not bar
Landlord from bringing any subsequent actions for further accruals pursuant to the provisions of this. In no event shall Tenant
be entitled to any excess rental received by Landlord over and above that which Tenant is obligated to pay hereunder; or


 


(iii)  The
right, even though it may have relet all or any portion of the Premises in accordance with the provisions of Subsection I 0.03.
below, to thereafter at any time elect to terminate this Lease for such previous default on the part of Tenant, and to terminate
all of the rights of Tenant in and to the Premises.


 


(b)  Pursuant
to the rights of re-entry provided above, Landlord may remove all persons from the Premises and may, remove all property therefrom,
and may, enforce any rights Landlord may have against said property or store the same in any public or private warehouse or elsewhere
at the cost and for the account of Tenant or the owner or owners thereof, Tenant agrees to hold Landlord free and harmless from
any liability whatsoever for the removal and/or storage of any such property, whether of Tenant or any third party whomsoever,
Anything contained herein to the contrary notwithstanding, Landlord shall not be deemed to have terminated this Lease or the liability
of Tenant to pay any rent or other sum of money thereafter to accrue hereunder, or Tenant’s liability for damages under
any of the provisions hereof, by any such reentry, or by any action in unlawful detainer or otherwise to obtain possession of
the Properly, unless Landlord shall have specifically, with reference to this, notified Tenant in writing that it has so elected
to terminate this Lease. Tenant covenants and agrees that the service by Landlord of any notice pursuant to the unlawful detainer
statutes of the State of Nevada and the surrender of possession pursuant to such notice shall not (unless Landlord
elects to the contrary at the time of, or at any time subsequent to, the service of such notice to Tenant) be deemed to
be a termination of this Lease, or the termination of any liability of Tenant hereunder to Landlord.


 


(c)  In
any action brought by Landlord to enforce any of its rights under or arising from this Lease, Landlord shall be entitled to receive
its costs and legal expenses, including reasonable attorneys’ fees, whether such action is prosecuted to judgment or not.
If Landlord shall engage the services of an attorney for the purpose of collecting any rental due from Tenant, Tenant shall pay
the reasonable fees of such attorney for his or her services regardless of the fact that no legal proceeding or action may have
been filed or commenced. The parties hereto shall and they hereby do waive trial by lure in any action, proceeding, or counterclaim
brought by either of the parties hereto against the other on any matters whatsoever arising out of or in any way connected with
the Lease, the relationship of Landlord and Tenant, Tenant’s use of occupancy of the Premises, and/or any claim of injury
or damage. 


 


(d)  The
waiver by Landlord of any default or breach of any of the terms, covenants, or conditions hereof on the part of Tenant to be kept
and performed shall not be a waiver of any preceding or subsequent breach of the same or any other term, covenant, or condition
contained herein. The subsequent acceptance of Rent or any other payment hereunder by Tenant to Landlord shall not be construed
to be a waiver of any preceding breach by Tenant of any term, covenant, or condition of this Lease other than the failure of Tenant
to pay the particular rent or other payment or portion thereof so accepted, regardless of Landlord’s knowledge of such preceding
breach at the time of acceptance of such rental or other payment. No payment by Tenant or receipt by Landlord of a lesser amount
than the Rent herein provided shall be deemed to be other than on account of the earliest Rent due and payable hereunder, nor
shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and
a satisfaction, and Landlord may accept any such check or payment without prejudice to Landlord’s rights to recover the
balance of such Rent or pursue any other remedy in or under this Lease. The consent by Landlord to any matter or event requiring
Landlord’s consent shall not constitute a waiver of the necessity for such consent to any subsequent matter or event.


 






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(e)  Nothing
contained herein shall constitute a waiver of Landlord’s right to recover damages by reason of Landlord’s efforts
to mitigate the damage to it caused by Tenant’s default; nor shall anything in this adversely affect Landlord’s right,
as in this Lease elsewhere provided, to indemnification against liability for injury or damage to persons or property occurring
prior to a termination of this Lease.


 


(f)  In
the event of termination of this Lease pursuant to this, Landlord may recover from Tenant:


 


(i)  the
worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus


 


(ii)  the
worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time
of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus As used in Subsections
10.03(00 and (ii) above, the “worth at the time of award” is computed by allowing interest at the rate of twelve percent
(12%) per annum.


 


Section
10.04  Repayment of “Free” Rent. If this Lease provides for a postponement of any monthly rental
payments, a period or periods of “free” rent, or other rent concession, such postponed rent or “free”
rent is called the “Abated Rent.” Tenant shall be credited with having paid all of the Abated Rent on the expiration
of the Lease Term only if Tenant has reasonably performed all of Tenant’s obligations hereunder, including the payment of
all rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Premises in the physical condition
required by this Lease. Tenant acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon
Tenant’s performance of its obligations under this Lease. If Tenant defaults and does not cure within any applicable grace
period, the Abated Rent shall immediately become due and payable in full and this Lease shall be enforced as if there were no
such rent abatement or other rent concession.


 


ARTICLE
ELEVEN  PROTECTION OF LENDERS


 


Section
11.01  Subordination. This Lease is subject and subordinate to all present and future ground or underlying leases
of the Premises or the Premises and to the lien of any mortgages or deeds of trust, now or hereafter in force against the Premises
or the Premises, and to all renewals, extensions, modifications, consolidations and replacements thereof, and to ail advances
made or hereafter to be made upon the security of such mortgages or deeds of trust, unless the holders of such mortgages or deeds
of trust, or the lessors under such ground lease or underlying leases, require in writing that this Lease be superior thereto.
This clause shall be self-operative and no further instrument of subordination shall be required to make the interest of any lessor
under any ground or underlying lease or holder of any mortgage or deed of trust superior to the interest of Tenant hereunder.
Tenant covenants and agrees in the event any proceedings arc brought for the foreclosure of any such mortgage or trust deed, or
if any ground or underlying lease is terminated, to attorn, without any deductions or sct-offs whatsoever, to the purchaser upon
any such foreclosure sale, or to the lessor of such ground or underlying lease, as the case may be, if so requested by such purchaser
or lessor, and to recognize such purchaser or lessor as the landlord under this Lease, provided such lienholder or purchaser or
ground lessor shall agree to accept this Lease and not disturb Tenant’s occupancy under the terms and conditions
of this Lease, so long as Tenant timely pays the rent and observes and performs all of the terms, covenants and conditions of
this Lease to be observed and performed by Tenant. Landlord’s interest herein may be assigned as security at any time to
any lienholdcr. Tenant shall, within ten (10) days of request by Landlord, execute such further commercially reasonable instruments
or assurances in the form as is then required by Landlord’s lender to evidence or confirm the subordination or superiority
of this Lease to any such mortgages, trust deeds, ground leases or underlying leases.


 






    22


     


    

 


Section
11.02  Estoppel Certificates.


 


(a)  Upon
Landlord’s written request, Tenant shall execute, acknowledge and deliver to Landlord a written statement, in the form as
is then reasonably required by Landlord’s lender, certifying: (i) that none of the terms or provisions of this Lease have
been changed (or if they have been changed, stating how they have been changed); (ii) that this Lease has not been cancelled or
terminated; (iii) the last date of payment of the Base Rent and other charges and the time period covered by such payment; (iv)
that Landlord is not in default under this Lease (or, if Landlord is claimed to be in default, stating why); and (v) such other
representations or information with respect to Tenant or this Lease as Landlord may reasonably request or which any prospective
purchaser or encumbrancer of the Premises may require. Tenant shall deliver such statement to Landlord within fifteen (15) days
after Landlord’s request. Landlord may give any such statement by Tenant to any prospective purchaser or encumbrancer of
the Premises. Such purchaser or encumbrancer may rely conclusively upon such statement as true and correct.


 


(b)  If
Tenant does not deliver such statement to Landlord within such fifteen (15) -day period, Landlord, and any prospective purchaser
or encumbrancer, may conclusively presume and rely upon the following facts: (i) that the terms and provisions of this Lease have
not been changed except as otherwise represented by Landlord; and (ii) that this Lease has not been canceled or terminated except
as otherwise represented by Landlord.


 


Section
11.03  Tenant’s Financial Condition. Within thirty (30) days after written request from Landlord, Tenant shall
deliver to Landlord such financial statements, as Landlord reasonably requires, to verify the net worth of Tenant or any assignee,
subtenant, or guarantor of Tenant. In addition, Tenant shall deliver to any lender designated by Landlord any financial statements
reasonably required by such lender to facilitate the financing or refinancing of the Premises. Tenant represents and warrants
to Landlord that each such financial statement is a true and accurate statement as of the date of such statement. All financial
statements required hereunder to be delivered by Tenant shall be confidential and shall be used solely in connection with financing
secured by this Lease, or a sale of the Building or Premises. All financial statements and other sensitive financial information
delivered to by Landlord to Tenant pursuant to this Lease shall not be disclosed by Landlord except to Landlord’s lenders,
consultants, or other advisors who have a reasonable need to know and who are advised as to the confidential nature of such information
and agree to treat the same as confidential. As to prospective purchasers of the Building or Premises, Tenant may require such
third parties to execute a further Confidentiality and Non-Disclosure Agreement prior to providing such financial statements.


 


ARTICLE
TWELVE  LEGAL COSTS


 


Section
12.01  Legal Proceedings. If Tenant or Landlord shall be in breach or default under this Lease, such party (the “Defaulting
Party”) shall reimburse the other party (the “Non-defaulting Party”) upon demand for any costs or expenses that
the Non-defaulting Party incurs in connection with any breach or default of the Defaulting Party under this Lease, whether or
not suit is commenced or judgment entered. Furthermore,  any action for breach of or to enforce the provisions of this
Lease is commenced, the court in such action shall award to the party in whose favor a judgment is entered, a reasonable sum as
attonteys’ fees and costs. The losing party in such action shall pay such attorneys’ fees and costs. Tenant shall
also indemnify Landlord against and hold harmless Landlord (and Landlord’s members, managers, partners, and shareholders,
as applicable, and the affiliates, employees, agents, contractors of Landlord, and its members, managers, partners, and shareholders,
as applicable) from all costs, expenses, demands and liability Landlord may incur if Landlord becomes or is made a party to any
claim or action (a) instituted by Tenant against any third party, or by any third party against Tenant, or by or against any person
holding any interest under or using the Premises by license of or agreement with Tenant (a “Tenant Licensee”);
(b) for foreclosure of any lien for labor or material furnished to or for Tenant or such Tenant Licensee; (c) otherwise arising
out of or resulting from any act or transaction of Tenant or such Tenant Licensee; or (d) necessary to protect Landlord’s
interest under this Lease in a bankruptcy proceeding, or other proceeding under Title 1 I of the United States Code, as amended.
Tenant shall defend Landlord against any such claim or action at Tenant’s expense with counsel reasonably acceptable
to Landlord


 






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Section
12.02  Landlord’s Consent. Tenant shall pay Landlord’s reasonable attorneys’ fees incurred
in connection with (a) Tenant’s request for Landlord’s consent under Article Nine (Assignment and Subletting)
of this Lease, or in connection with any other act which Tenant proposes to do and which requires Landlord’s consent, or
(h) any other Landlord action requested by Tenant.


 


ARTICLE
THIRTEEN  BROKERS


 


Landlord
and Tenant hereby warrant to each other that they have had no dealings with any real estate broker or agent in connection with
the negotiation of this Lease, and that they know of no other real estate broker or agent who is entitled to a commission in connection
with this Lease. Each party agrees to indemnify and defend the other party against and hold the other party harmless from any
and ail claims, demands, losses, liabilities, lawsuits, judgments, and costs and expenses (including without limitation reasonable
attorneys’ fees) with respect to any teasing commission or equivalent compensation alleged to be owing on account of the
indemnifying party’s dealings with any real estate broker or agent.


 


ARTICLE
FOURTEEN RESERVED


 


ARTICLE
FIFTEEN  COMMUNICATIONS SERVICES


 


Section
15.01  Intentionally deleted.


 


ARTICLE
SIXTEEN  MISCELLANEOUS PROVISIONS


 


Section
16.01  Non-Discrimination. Tenant and Landlord promise, and it is a condition to the continuance of this Lease, that
there will be no discrimination against, or segregation of, any person or group of persons on the basis of race, color, religion,
creed, age, sex, disability, national origin, ancestry, ethnicity, sexual orientation, marital status, citizenship status, or
veteran status in the leasing, subleasing, transferring, occupancy, tenure or use of the Premises or any portion thereof.


 


Section
16.02  Landlord’s Liability; Certain Duties.


 


(a)  As
used in this Lease, the term “Landlord” means the owner or owners of the fee title to the Premises or the leasehold
estate under a ground lease of the Premises. Each Landlord is obligated to perform the obligations of Landlord under this Lease.
Each Landlord shall deliver to its transferee all funds that Tenant previously paid if such funds have not yet been applied under
the terms of this Lease.


 


(b)  Tenant
shall give written notice of any failure by Landlord to perform any of its obligations under this Lease to Landlord and to any
ground lessor, mortgagee or beneficiary under any deed of trust encumbering the Premises whose name and address have been furnished
to Tenant in writing. Landlord shall not be in default under this Lease unless Landlord (or such ground lessor, mortgagee or beneficiary)
fails to cure such nonperformance within thirty (30) days after receipt of Tenant’s notice. However, if such non-performance
reasonably requires more than thirty (30) days to cure, Landlord shall not he in default if such cure is commenced within such
thirty (30) -day period and thereafter diligently pursued to completion.


 


(c)  Notwithstanding
any term or provision herein to the contrary, the liability of Landlord for the performance of its duties and obligations under
this Lease is limited to Landlord’s interest in the Premises, and neither the Landlord nor its members, managers, officers,
or other principals shall have any personal liability under this Lease.


 


Section
16.03  Severability. A determination by a court of competent jurisdiction that any provision of this Lease or any
part thereof is illegal or unenforceable shall not cancel or invalidate the remainder of such provision or this Lease, which shall
remain in full force and effect, and it is the intention of the parties that there shall be substituted for such provision as
is illegal or unenforceable a provision as similar to such provision as may be possible and yet be legal and enforceable.


 




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Section
16.04  Interpretation. The captions of the Articles or Sections of this Lease are to assist the parties in reading
this Lease and are not a part of the terms or provisions of this Lease. Unless the context clearly requires otherwise, (i) the
plural and singular numbers will each be deemed to include the other; (ii) the masculine, feminine, and neuter genders will each
be deemed to include the others; (iii) “shall,” “will,” “must,” “agrees,” and
“covenants” are each mandatory; (iv) “may” is permissive; (v) “or” is not exclusive; and (vi)
“includes” and “including” are not limiting. In the event of a dispute between Landlord and Tenant over
the interpretation of this Lease, both parties shall be deemed to have been the drafter of this Lease, and any Applicable Law
that states that contracts arc to be construed against the drafter shall not apply. In any provision relating to the conduct,
acts or omissions of Tenant, the term “Tenant” shall include Tenant’s agents, employees, contractors, invitees,
successors or others using the Premises with Tenant’s express or implied permission.


 


Section
16.05  incorporation of Prior Agreements; Modifications. This Lease is the only agreement between the parties
pertaining to the lease of the Premises and no other agreements are effective. All amendments to this Lease shall be in writing
and signed by all parties. Any other attempted amendment shall be void. All attached exhibits are hereby expressly incorporated
into this Lease by this reference.


 


Section
16.06  Notices. All notices, demands, statements or communications (collectively, “Notices”) given
or required to be given by either party to the other hereunder shall be in writing, shall be sent by United States certified or
registered mail, postage prepaid, return receipt requested, nationally-recognized commercial overnight courier, or delivered personally
(i) to Tenant at the appropriate address set forth in Section 1.03 above, except that upon Tenant’s taking possession
of the Premises, the Premises shall be Tenant’s address for notice purposes, or (ii) to Landlord at the addresses set forth
in Section 1.02 above. Landlord and Tenant shall have the right to change its respective Notice address upon giving Notice
to the other party. Any Notice will be deemed given two (2) business days after the date it is mailed as provided in this Section
16.06, or upon the date delivery is made, if delivered by an approved courier (as provided above) or personally delivered.
Consistent with the provisions of Section 16.02(b) above, if Tenant is notified of the identity and address of Landlord’s
secured lender or ground or underlying lessor, Tenant shall give to such lender or ground or underlying lessor written notice
of any default by Landlord under the terms of this Lease by registered or certified mail or by use of a nationally-recognized
commercial overnight courier, and such lender or ground or underlying lessor shall be given the same opportunity to cure such
default as is provided Landlord under this Lease (unless such cure period is extended pursuant to the terms of any agreement to
which Tenant is a party or to which Tenant consents) prior to Tenant’s exercising any remedy available to Tenant. Notices
required hereunder may be given by either an agent or attorney acting on behalf of Landlord or Tenant.


 


Section
16.07  Waivers. The failure of Landlord to insist upon the strict performance, in any of one or more instances,
of any term, covenant or condition of this Lease shall not be deemed to be a waiver by Landlord of such term, covenant or condition.
No waiver by Landlord of any breach by Tenant of any term, provision and covenant contained herein shall be deemed or construed
to constitute a waiver of any other or subsequent breach by Tenant of any term, provision or covenant contained herein. Landlord’s
acceptance of the payment of rent (or portions thereof) or any other payments hereunder after the occurrence of and during the
continuance of a default (or with knowledge of a breach of any term or provision of this Lease which with the giving of notice
and the passage of time, or both, would constitute a default) shall not be construed as a waiver of such default or any other
rights or remedies of Landlord, including any right of Landlord to recover the Premises. Moreover, Tenant acknowledges and agrees
that Landlord’s acceptance of a partial rent payment shall not, under any circumstances (whether or not such partial payment
is accompanied by a special endorsement or other statement), constitute an accord and satisfaction. Landlord will accept the check
(or other payment means) for payment without prejudice to Landlord’s right to recover the balance of such rent or to pursue
any other remedy available to Landlord. Forbearance by Landlord to enforce one or more of the remedies herein provided upon the
occurrence of a default shall not be deemed or construed to constitute a waiver of such default.


 


Section
16.08  No Recordation. Tenant shall not record this Lease or any assignment or security document pertaining to
this Lease. Either Landlord or Tenant may require that a “Short Form” or memorandum of this Lease executed by both
parties be recorded, The party requiring such recording shall pay all recording fees.


 




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Section
16.09  Binding Effect; Choice of Law. This Lease binds any party who legally acquires any rights or interest
in this Lease from Landlord or Tenant. However, Landlord shall have no obligation to Tenant’s successor unless the rights
or interests of Tenant’s successor arc acquired in accordance with the terms of this Lease. The laws of the State in which
the Premises is located shall govern this Lease, without regard to such State’s conflicts of law principles. Tenant hereby
knowingly, intentionally, and irrevocably agrees that Landlord may bring any action or claim to enforce or interpret the provisions
of this Lease in the State and County where the Premises is located, and that Tenant irrevocably consents to personal jurisdiction
in such State for the purposes of any such action or claim. Tenant further agrees that any action or claim brought by Tenant to
enforce or interpret the provisions of this Lease, or otherwise arising out of or related to this Lease or to Tenant’s use
and occupancy of the Premises, regardless of the theory of relief or recovery and regardless of whether third parties are involved
in the action, may only be brought in the State and County where the Premises is located.


 


Section
16.10  Corporate Authority; Partnership Authority; LLC Authority. If Tenant is a corporation, each person signing
this Lease on behalf of Tenant represents and warrants that he has full authority to do so and that. this Lease binds the corporation.
Within thirty (30) days after this Lease is signed, Tenant shall deliver to Landlord a certified copy of a resolution of Tenant’s
Board of Directors authorizing the execution of this Lease or other evidence of such authority reasonably acceptable to Landlord.
if Tenant is a partnership, each person or entity signing this Lease for Tenant represents and warrants that lie or it is a general
partner of the partnership, that he or it has full authority to sign for the partnership and that this Lease binds the partnership
and all general partners of the partnership. Tenant shall give written notice to Landlord of any general partner’s withdrawal
or addition. Within thirty (30) days after this Lease is signed, Tenant shall deliver to Landlord a copy of Tenant’s recorded
statement of partnership or certificate of limited partnership. If Tenant is a limited liability company (LLC), each person or
entity signing this Lease for Tenant represents and warrants that he or it is a manager or member of the LLC, that he or it has
full authority to sign for the LLC and that this Lease binds the LLC and that Tenant’s managers and members have duly authorized
the executed of this Lease.


 


Section
16.11  Force Majeure. A “Force Majeure” event shall occur if Landlord or Tenant cannot perform any
of its obligations due to events beyond such party’s control (except with respect to the obligations imposed with regard
to Base Rent, Additional Rent and other charges to be paid by Tenant pursuant to this Lease), and in such eases the time provided
for performing such obligations shall be extended by a period of time equal to the duration of such events. Events beyond Landlord’s
or Tenant’s control include, but are not limited to, acts of God, war, civil commotion, terrorist acts, labor disputes,
strikes, fire, flood or other casualty, shortages of labor or material, government regulation or restriction, waiting periods
for obtaining governmental permits or approvals or inspections, or weather conditions. No express reference in this Lease to a
Force Majeure event shall create any inference that the terms of this Section 16.12 do not apply with equal force in the
absence of such an express reference.


 


Section
16.12  Counterparts. This Lease may be executed in counterparts and, when all counterpart documents are executed,
the counterparts shall constitute a single binding instrument. Receipt of facsimile signatures (regardless of the means of transmission),
whether by PDF or other format) shall he as binding on the parties as an original signature.


 


Section
16.13  Relationship of Parties. Nothing contained in this Lease shall he deemed or construed by the parties hereto
or by any third party to create the relationship of principal and agent, partnership, joint venturer or any association between
Landlord and Tenant, it being expressly understood and agreed that neither the method of computation of Rent nor any act of the
parties hereto shall be deemed to create any relationship between Landlord and Tenant other than the relationship of landlord
and tenant.


 


Section
16.14  No Warranty. In executing and delivering this Lease, Tenant has not relied on any representation, including,
but not limited to, any representation whatsoever as to the amount of any item comprising Additional Rent or the amount of the
Additional Rent in the aggregate, or any warranty or any statement of Landlord which is not set forth herein or in one or more
of the exhibits attached hereto.








 




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Section
16.15  Confidentiality. Tenant agrees that the terms of this Lease arc confidential and constitute proprietary
information of Landlord, and that disclosure of time terms hereof could adversely affect Landlord. Tenant shall keep its partners,
members, managers, officers, directors, employees, agents, real estate brokers and sales persons and attorneys, as applicable,
from disclosing the terns of this Lease to any other person without Landlord’s prior written consent, which consent shall
not be unreasonably withheld, except to any accountants or professionals of Tenant in connection with the preparation of Tenant’s
financial statements or tax returns, to agents or consultants of Tenant in connection with Tenant’s performance of its business
or obligations hereunder, to an assignee of this Lease or subtenant of the Premises, to the prospective investors of Tenant’s
business and their agents, or to a person to whom disclosure is required in connection with any action brought to enforce this
Lease, or by law; provided, however, that Tenant shall inform such persons of the confidentiality of the terms of this
Lease and shall obtain their agreement to abide by the confidentiality provisions of this Section prior to such disclosure


 


Section
16.16  Revenue and Expense Accounting. Landlord and Tenant agree that for purposes of Section 467 of the Internal
Revenue Code rental income will accrue to Landlord and rental expenses will accrue to Tenant in the amounts and as of the dates
rent is payable under this Lease.


 


Section
16.17  Tenant’s Representations and Warranties. Tenant warrants and represents to Landlord as follows,
each of which is material and being relied upon by Landlord:


 


(a)  Tenant
and all persons and entities (1) owning (directly or indirectly) an ownership interest in Tenant, (ii) whom or which are an assignee
of Tenant’s interest in this Lease; or (iii) whom or which are a guarantor of Tenant’s obligations under this Lease:
(x) are not, and shall not become, a person or entity with whom Landlord is restricted from doing business under regulations of
the Office of Foreign Assets Control (“OFAC”) of the Department of the Treasury (including, but not limited to, those
named on OFAC’s Specially Designated Nationals and Blocked Persons list) or under any statute, executive order (including,
but not limited to, the September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism); (y) arc not, and shall not become, a person or entity with whom Landlord is restricted
from doing business under the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 or the regulations
or orders thereunder; and (z) are not knowingly engaged in, and shall not knowingly engage in, any dealings or transaction or
be otherwise associated with such persons or entities described in clauses (x) or (y), above.


 


(b)  If
Tenant is an entity, Tenant is duly organized, validly existing and in good standing under the laws of the State of its organization,
and is qualified to do business in the State in which the Premises is located, and the persons executing this Lease on behalf
of Tenant have the full right and authority to bind Tenant without the consent or approval of any other person or entity. Tenant
has full power, capacity, authority and legal right to execute and deliver this Lease and to perform all of its obligations hereunder.
This Lease is a legal, valid and binding obligation of Tenant, enforceable in accordance with its terms.


 


(c)  Tenant
has not (1) made a general assignment for the benefit of creditors, (2) filed any voluntary petition in bankruptcy or suffered
the filing of an involuntary petition by any creditors, (3) suffered the appointment of a receiver to take possession of all or
substantially all of its assets, (4) suffered the attachment or other judicial seizure of all or substantially all of its assets,
(5) admitted in writing its inability to pay its debts as they come due, or (6) made an offer of settlement, extension or composition
to its creditors generally.


 


Tenant
confirms that all of the above representations and warranties are true as of the date of this Lease, and acknowledges and agrees
that they (and any other representations and warranties of Tenant contained in this Lease) shall survive the expiration or
earlier termination of this Lease. Further, all of Tenant’s covenants and obligations set forth in this Lease that require
or contemplate Tenant’s performance subsequent to the termination of this Lease shall survive the termination of this Lease.


 


Section
16.18  Heirs and Successors. The covenants and agreements of this Lease shall be binding upon the heirs, legal
representatives, successors and permitted assigns of the parties hereto.


 






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Section
16.19  Tenant’s Cooperation. Tenant acknowledges that the Building may in the future be retrofitted to
be certified/rated pursuant to the U.S. EPA’s Energy Star® Portfolio Manager, the Green Building Initiative’s
Green GlobesTM building rating system, or the U.S. Green Building Council’s Leadership in Energy and Environmental Design
(LEED®) building rating system, or operated to meet another standard for high performance buildings adopted by Landlord (collectively,
the “Green Building Standard”). As and when requested by Landlord during the Lease Term, Tenant shall provide
Landlord (in the format requested by Landlord and reasonably necessary or desirable to comply with the requirements of the applicable
Green Building Standard or any commissioning or re-commissioning of the Building’s systems) with data concerning Tenant’s
energy consumption, water consumption, and the operation of the Building’s systems. Such data may include, without limitation,
the operating hours, the number of on-site personnel, the types of equipment used at the Building (including computer equipment,
if applicable), and energy use and cost. Landlord shall have no liability to Tenant if, once obtained, any such Green Building
Standard rating or certification lapses and is not reinstated by Landlord.


 


Section
16.20  Option to Purchase. Tenant shall have a right, commencing on the first day of Lease Month 25 and expiring
on the last day of Lease Month 60, to purchase the Option Property (defined below) upon delivery of no less than thirty (30) days’
prior written notice to Landlord of Tenant’s election to exercise such option (the “Purchase Option”).
As used herein, the “Option Property” shall mean the Building containing the Premises and the applicable Premises.
The Purchase Option shall permit Tenant to acquire the Option Property at a purchase price equal to Two Million Six Hundred Seven
Thousand Eight Hundred Eighty and No/100 Dollars ($2,607,880.00), and on such other commercially reasonable terms and conditions
as the parties may mutually agree upon in writing. Tenant and Landlord agree to reasonably cooperate and negotiate in good faith
to enter into a definitive purchase and sale agreement or real estate purchase contract to memorialize the same. In the event
that Tenant and Landlord are unable to agree upon the material terms and/or conditions of Tenant’s consummation of the purchase
of the Option Property pursuant to the Purchase Option within ninety (90) days following Tenant’s written notice of exercise
of the Purchase Option, the Tenant and Landlord shall submit the dispute to binding arbitration administered by the American Arbitration
Association under its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any
court having jurisdiction thereof Tenant and Landlord shall each pay fifty percent (50%) of all fees and costs charged by the
arbitrator and shall otherwise pay for their own attorneys’ fees, costs, and expenses concerning such arbitration matter.
This Purchase Option shall terminate upon any Transfer of this Lease regardless or the month of such Transfer.


 


ARTICLE
SEVENTEEN SUBMISSION FOR REVIEW


 


THE
SUBMISSION OF THIS LEASE BY LANDLORD, ITS AGENT OR REPRESENTATIVE FOR EXAMINATION OR EXECUTION BY TENANT DOES NOT CONSTITUTE AN
OPTION OR OFFER TO LEASE THE PREMISES UPON THE TERMS AND CONDITIONS CONTAINED HEREIN OR A RESERVATION OF THE PREMISES IN FAVOR
OF TENANT, IT BEING INTENDED HEREBY THAT THIS LEASE SHALL ONLY BECOME EFFECTIVE UPON THE EXECUTION HEREOF BY LANDLORD AND DELIVERY
OF A FULLY EXECUTED LEASE TO TENANT, WHETHER SUCH EXECUTION AND DELIVERY IS ACCOMPLISHED BY PHYSICAL DELIVERY OR DELIVERY BY ELECTRONIC
TRANSMISSION OR OTHER ELECTRONIC MEANS. NEITHER PARTY SHALL HAVE ANY OBLIGATION TO CONTINUE DISCUSSIONS OR NEGOTIATIONS OF THIS
LEASE.





 


(Left
intentionally blank — signature page to follow)


 




    28


     


    

 


Landlord
and Tenant have signed this Lease at the place and on the dates specified adjacent to their signatures below.


 


 









 




     


     


    

 


EXHIBIT
A 


 


DEPICTION
OR DESCRIPTION OF THE PREMISES 
 


(Attach
Site Plan Showing approx. 17,298s.f. Building and Premises)


 




    A-1


     


    

 


EXHIBIT
B


 


RESERVED


 



    B-1


     


    

 


EXHIBIT
C





 


CONFIRMATION
OF INITIAL LEASE TERM AND AMENDMENT TO LEASE


 


THIS
CONFIRMATION OF INITIAL LEASE TERM AND AMENDMENT TO LEASE (“Confirmation”) is made as of the  ______ day
of _________ 2017 by and between_________________  , a (“Landlord”), and ________________  , a
____________________  _(“Tenant”).


 


Landlord and Tenant agree as follows:


 


1.  Landlord
and Tenant have entered into a Standard Industrial Real Estate Lease, dated 20  (the “Lease”), in which
Landlord leased to Tenant and Tenant leased from Landlord certain described premises located at ____________________ (the “Property”).


 


2.  Consistent
with Sections 2.01 and 2.02 of the Lease, Landlord and Tenant hereby confirm the Lease Commencement Date and the Expiration Date
of the initial Lease Term (as defined in the Lease), and amend Section 1.05 of the Lease to conform to such dates. The pertinent
dates arc as follows:


 


a.
___________, 20 ____ is the Lease Commencement Date; and


 


b.
___________,
20 ____ is the Lease Expiration Date.


 


3.  Tenant
confirms that:


 


a.  It
has accepted possession of the Premises as provided in the Lease;


 


b.  The
Lease has not been modified, altered, or amended, except as provided in this Confirmation and as follows: ____________________  ;
and


 


c.  The
Lease is in full force and effeet.


 


4.  The
provisions of this Confirmation shall inure to the benefit, or bind, as the case may require, Landlord, Tenant, and their respective
permitted successors and assigns.


 


DATED
as of the date first written above.


 





	LANDLORD:	 	TENANT:
	 	 	 
	 	 	 
	 	 	 
	a	 	a
	 	 	 



 


	By:	 	 	By:
    	 
	 	 	 	 	 
	Its:	 	 	Its:	 







 






    C-1